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7115 E Lobo Avenue Mesa, AZ 85209

5 Beds 3 Baths 3,032 sqft Built 1995

$430,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $141.82
  • 2 Days on Market
  • MLS # : 6181644
  • Updated Date : 02/13/2021 at 20:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,032 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

HUGE OPEN SPACES for the Family to spread out in. LOCATION - LOCATION - LOCATION! Less than two miles to Superstition Springs Mall, Superstition Springs Golf Course, U.S. 60 & Loop 202. Lots of Restaurants nearby along with Banner Gateway Hospital. This home has lots of potential and has a sparkling diving pool w/new filtration/cleaning system. You don't want to let this one get away!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Superstition Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k287k

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

Neighborhood: Superstition Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181588

* 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
Highland Jr High School Middle Regular 1,269 59 8
Desert Ridge High School High Regular 2,752 119 6
Highland Jr High School Middle Unknown NA

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,494
Property Tax -$260
Property Insurance -$86
HOA -$8
Property Management Fees -$99
CASH FLOW
$124

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.

$430,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
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$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$37,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,350

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0703$2,1254$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 7115 E Lobo Avenue Mesa, AZ 2
    • 5 beds 3 baths ∙ 3,032 Sqft ∙ Built 1995 5 beds 3 baths ∙ 3,032 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.68
    •  
  • 761 N Pheasant Drive Gilbert, AZ 1
    • 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1999
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 4108 E Breckenridge Way Gilbert, AZ 3
    • 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1998
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.77
    •  
  • 3534 E Gary Way Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,918 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,918 Sqft ∙ Built 2008
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 7552 E Onza Avenue Mesa, AZ 5
    • 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2014
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Paul A Cameron
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181644
Last Updated: 02/13/2021
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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