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5064 E Gary Street Mesa, AZ 85205

3 Beds 2 Baths 1,971 sqft Built 2017

$398,500

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $202.18
  • 2 Days on Market
  • MLS # : 6160494
  • Updated Date : 11/14/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,971 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Charming 3 bed + den, 2 bath next to the greenbelt in this much sought after Mesa neighborhood. The moment you walk in the door you are drawn to the spacious open concept living space and picturesque extended patio doors and windows streaming in the natural light. The upgraded kitchen is the heart of this home complete with custom gray cabinets, quartz countertops, SS appliances that include gas range, pendant lights and massive walk-in pantry. Double entry to laundry for added convenience. Home office/den has double, 9' French doors . Retreat in your inviting master suite with spa-like bathroom; double vanity, beautiful tile & stone step-in, steam shower. The backyard is perfect for those backyard BBQ's with an extended paver patio and synthetic lawn.

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
 

$358,650$438,350$398,500

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,470
Property Tax -$207
Property Insurance -$66
HOA -$69
Property Management Fees -$99
CASH FLOW
$59

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.

$398,500

PROJECTED PRICE

$1,970

PROJECTED RENT

0.49%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$111,353

INVESTMENT

$111,353

Down Payment
$99,625
Rehab Estimate
$5,750
Closing Costs
$5,978

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,470

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,625
Loan Amount $298,875
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$35,575

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7753$1,9004$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 5064 E Gary Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1514 N Banning -- Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.93
    •  
  • 1532 N Balboa -- Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 1463 N Banning -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2016
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.05
    •  
  • 5058 E Hannibal Street E Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2016
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lissette Lent
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160494
Last Updated: 11/14/2020
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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