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5838 E Elmwood Street Mesa, AZ 85205

4 Beds 3 Baths 2,420 sqft Built 1986

$435,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $179.75
  • 3 Days on Market
  • MLS # : 6187247
  • Updated Date : 01/30/2021 at 22:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,420 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Mesa two-story cul-de-sac home offers granite countertops, and a three-car garage. This home is vacant and cleaned regularly.

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
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,511
Property Tax -$226
Property Insurance -$74
HOA -$6
Property Management Fees -$99
CASH FLOW
$14

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.

$435,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.44%

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$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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$28,229

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
  • $2,172

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,8954$1,9755$2,024
$2,024
RENT COMPS ANALYSIS
  • 5838 E Elmwood Street Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5865 E Jasmine Street Mesa, AZ 2
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 1990
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 909 N Seton Street Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1986
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 5449 E Elmwood Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 1988
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.94
    •  
  • 6124 E Ingram Street Mesa, AZ 5
    • 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 1987 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 1987
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,024
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lisa A Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187247
Last Updated: 01/30/2021
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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