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5407 E Ellis Street Mesa, AZ 85205

3 Beds 2 Baths 1,649 sqft Built 1987

$399,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $242.51
  • 3 Days on Market
  • MLS # : 6177488
  • Updated Date : 01/08/2021 at 17:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,649 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

CHARMING AND WELL-MAINTAINED SINGLE LEVEL HOME IN ALTA MESA WITH OVER $75,000 IN RECENT UPGRADES! Pristine & sparkling 2019-built Pebble Sheen SHASTA 9.5 ft diving pool is the center of attention in this resort-style yard, where owners have added in a new drip and irrigation system with timer, grassy play area, new concrete front walkway, paved patios in front and back, new palms and citrus and a permanent storage shed. Upgraded Pentair pool equipment w/ in-floor cleaning system makes maintenance a breeze. Inside, discover brand new granite countertops in kitchen and baths, new faucets and sinks (double-basin Blanco in kitchen), all updated appliances, new lighting and fans, shade screens and window treatments, carpet, entry tile and paint. NEW ROOF & patio roof replaced in 2019, & HVAC

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
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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,389
Property Tax -$208
Property Insurance -$59
HOA -$6
Property Management Fees -$99
CASH FLOW
-$71

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.

$399,900

PROJECTED PRICE

$1,690

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$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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$19,091

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,4954$1,6755$1,690
$1,690
RENT COMPS ANALYSIS
  • 5407 E Ellis Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.02
    •  
  • 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
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 5503 E Fairfield Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1991
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.07
    •  
  • 5517 E Fairfield Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1991
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 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
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
PROPERTY LISTING DETAILS
Renee' Merritt
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177488
Last Updated: 01/08/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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