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5318 E Hobart Street Mesa, AZ 85205

2 Beds 2 Baths 1,584 sqft Built 1987

$359,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $226.64
  • 2 Days on Market
  • MLS # : 6213047
  • Updated Date : 03/27/2021 at 23:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,584 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Mature landscaping greets you at the curb of this lovely 2 bed plus den single level home on a corner lot in Popular Alta Mesa. Huge great room with vaulted ceilings and plantation shutters. There are plenty of pine cabinets in the spacious kitchen that comes with all the appliances and a breakfast bar. There is a rain soft water system installed for the whole house. The large master bedroom comes equipped with a walk in closet. Master ensuite has a double sink vanity and separate toilet room. Relax in your private pool and spa. Grassy back yard has a large storage shed and a lemon tree. This is a wonderful community with golf course, clubhouse and lots of green open spaces.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alta Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k286k

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

Neighborhood: Alta Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21050110011501200125013001350140014501500155016001650Rent in $10181662

* 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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

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

$323,100$394,900$359,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,247
Property Tax -$186
Property Insurance -$58
HOA -$6
Property Management Fees -$99
CASH FLOW
-$106

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.

$359,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.9%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$13,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,2953$1,3754$1,4505$1,490
$1,490
RENT COMPS ANALYSIS
  • 5318 E Hobart Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,584 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,584 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.94
    •  
  • 2151 N Recker Road Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1971
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.04
    •  
  • 5450 E Mclellan Road #105 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,293 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,293 Sqft ∙ Built 2001
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.00
    •  
  • 1235 N Sunnyvale Street #86 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 1986
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 5415 E Mckellips Road #103 Mesa, AZ 4
    • 2 beds 3 baths ∙ 1,469 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,469 Sqft ∙ Built 2002
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
PROPERTY LISTING DETAILS
Joanne Brown
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6213047
Last Updated: 03/27/2021
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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