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7218 E Norland Street Mesa, AZ 85207

3 Beds 3 Baths 1,926 sqft Built 2008

$399,990

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $207.68
  • 3 Days on Market
  • MLS # : 6159822
  • Updated Date : 11/14/2020 at 11:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,926 sqft
  • Baths : 3 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Immaculate Tuscan Style Home nestled in the Award Winning Gated Community of Las Sendas, which features a community pool, heated spa, clubhouse, workout facility, tennis courts and optional golf club membership. Built in 2008, this Blandford Home comes with a spacious floor plan that boasts a large open kitchen, a master bedroom retreat with large master closet. There are large second and third bedrooms plus two additional bathrooms. The beautifully designed kitchen is upgraded with 42'' upper cabinets, high-quality stainless steel appliances, Gas Range, granite countertops and an elegant marbled backsplash. Updates done to this home in the last 4 years include, the artificial turf and paver hardscape in the backyard, along with fresh exterior paint.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k477k

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

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10342434

* 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
Fremont Junior High School High Regular 976 48 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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$359,991$439,989$399,990

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,476
Property Tax -$213
Property Insurance -$65
HOA -$40
Property Management Fees -$99
CASH FLOW
-$3

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.

$399,990

PROJECTED PRICE

$1,890

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,747

INVESTMENT

$111,747

Down Payment
$99,998
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,998
Loan Amount $299,993
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$27,673

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
  • $1,907

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7303$1,7954$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 7218 E Norland Street Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7255 E Northridge Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 2002
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.93
    •  
  • 7218 E Northridge Street Mesa, AZ 3
    • 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 2003
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 2963 N Sonoran Hills -- Mesa, AZ 4
    • 3 beds 4 baths ∙ 2,037 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,037 Sqft ∙ Built 2017
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 2951 N 72nd Street Mesa, AZ 5
    • 3 beds 4 baths ∙ 2,041 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,041 Sqft ∙ Built 2017
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
PROPERTY LISTING DETAILS
Deirdre A. Lehner
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159822
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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