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5408 E Glencove Street Mesa, AZ 85205

3 Beds 3 Baths 2,606 sqft Built 1985

$460,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $176.52
  • 4 Days on Market
  • MLS # : 6155638
  • Updated Date : 11/14/2020 at 06:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,606 sqft
  • Baths : 3 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Incredible opportunity to own this 3bed/3bath Mesa home tucked into the highly desirable Alta Mesa community. Great curb appeal with extra deep garage & RV gate for low profile vehicles. NEW HVAC in 2019. Beautiful saltillo flooring, soaring vaulted ceilings, charming brick fireplace and a fluid open floorplan. Huge kitchen boasts stainless steel appliances, FULL fridge and freezer, granite counter tops and a breakfast bar. Big master bedroom with door to covered deck. Luxurious en suite with dual sinks, jetted tub and separate shower. Step out to your amazing resort style backyard. Complete with sparkling pool/spa, putting green, large covered and heated ramada, tropical landscaping and jaw dropping golf course & mountain views. Sitting on the 8th green! You have to see it to believe

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
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,697
Property Tax -$239
Property Insurance -$78
HOA -$6
Property Management Fees -$99
CASH FLOW
-$249

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.

$460,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.41%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7993$1,870
$1,870
RENT COMPS ANALYSIS
  • 5408 E Glencove Street Mesa, AZ 3
    • 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.72
    •  
  • 4906 E Brown Road #20 Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 1994
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.77
    •  
  • 2329 N Recker Road #39 Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 1995
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.72
    •  
PROPERTY LISTING DETAILS
Mark A Toon
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155638
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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