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638 W Nopal Avenue Mesa, AZ 85210

4 Beds 3 Baths 2,316 sqft Built 1993

$449,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $194.26
  • 3 Days on Market
  • MLS # : 6183557
  • Updated Date : 01/22/2021 at 16:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,316 sqft
  • Baths : 2 full , 1 half
Listing Agent

Delex Realty

Listing Agent's Description

Beautifully remodeled 4 bed, 2.5 bath home in the desirable Rancho del Mar neighborhood with no HOA. The neighborhood includes a park and is centrally located near 101 and 60 freeways, minutes to Downtown Gilbert, Chandler and Tempe Marketplace for shopping, dining and entertainment. This home is perfect for entertaining and relaxing with family and friends. Features an open concept, new interior and exterior 2 tone paint, vaulted ceilings, designer kitchen, granite counters, SS appliances, a stunning master suite with an oversized shower and freestanding clawfoot tub. The outdoor space has a covered patio, mature shade trees for privacy, lush grass yard for kids and pets to enjoy. Garage features: storage cabinets, 240V NEMA 14-50 outlet for an electric vehicle (Tesla compatible).

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho del Mar

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k378k

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

Neighborhood: Rancho del Mar

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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
Dobson High School High Regular 2,639 122 4

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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,563
Property Tax -$233
Property Insurance -$72
Property Management Fees -$99
CASH FLOW
$13

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$449,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$27,286

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
  • $2,096

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,0004$2,0505$2,595
$2,595
RENT COMPS ANALYSIS
  • 638 W Nopal Avenue Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 557 W Monte Avenue Mesa, AZ 2
    • 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,279 Sqft ∙ Built 1994
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 844 W Obispo Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 1984
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 718 W Curry Street Chandler, AZ 4
    • 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 1983
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 1355 W Lobo Avenue Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1978
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Bradley M. Sikes
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183557
Last Updated: 01/22/2021
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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