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5051 E Adobe Street Mesa, AZ 85205

4 Beds 2 Baths 1,659 sqft Built 1993

$355,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $213.98
  • 4 Days on Market
  • MLS # : 6164905
  • Updated Date : 12/05/2020 at 14:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,659 sqft
  • Baths : 2 full
Listing Agent

Dpr Realty Llc

Listing Agent's Description

NO HOA! ................. LOCATION, LOCATION, LOCATION....TOTALLY REMODELED in a great neighborhood close to 202 and shopping centers. It has plant shelves, vaulted ceilings, new ceiling fans AND MUCH MORE. It has NEW KITCHEN CABINETS, STAINLESS STEEL APPLIANCES, freshly painted inside and out. 4th bedroom has double doors so could also be used as an office. Bathrooms have been updated. Walking distance to Elementary School and NO HOA! House has a large front yard with grass. It won't last long! House has ARMLS box and contractor box.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stoneybrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k306k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Stoneybrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Red Mountain High School High Regular 3,347 145 7

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,310
Property Tax -$184
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$113

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$355,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$16,973

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,540

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5404$1,6755$1,750
$1,750
RENT COMPS ANALYSIS
  • 5051 E Adobe Street Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.93
    •  
  • 5704 E Fairbrook Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1988
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 4658 E Contessa Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1984
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 5041 E Dallas Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1986
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
  • 4803 E Princess Drive Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1985
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
PROPERTY LISTING DETAILS
Salli Ann Cline
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164905
Last Updated: 12/05/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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