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5053 E Glencove Street Mesa, AZ 85205

3 Beds 2 Baths 1,677 sqft Built 2018

$379,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $226.54
  • 5 Days on Market
  • MLS # : 6183274
  • Updated Date : 01/22/2021 at 03:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,677 sqft
  • Baths : 2 full
Listing Agent

Hague Partners

Listing Agent's Description

Unbelievable amounts of charm and potential!! This amazing home is a blank slate awaiting your impersonal touch! With a perfect open layout with kitchen and great room making entertaining and family time a breeze. The kitchen has a huge island, sparkling granite counters, and an abundance of cabinetry. With two-bedroom spacious bedrooms and a grand, master there is room for everyone! Amazing community to live in complete with a soccer field, lush green common areas, & gorgeous community pool/party area.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Falcon Field

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Falcon Field

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
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,320
Property Tax -$197
Property Insurance -$60
HOA -$90
Property Management Fees -$99
CASH FLOW
$24

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.

$379,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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$1.2M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7904$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 5053 E Glencove Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.07
    •  
  • 1512 N Balboa -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2017
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 1743 N Seton -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 5064 E Hobart Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 1460 N Banning -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2016
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
PROPERTY LISTING DETAILS
Kristy N Dewitz
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183274
Last Updated: 01/22/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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