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7252 E Melrose Street Mesa, AZ 85207

2 Beds 2 Baths 1,130 sqft Built 2002

$290,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $256.64
  • 4 Days on Market
  • MLS # : 6192309
  • Updated Date : 02/14/2021 at 00:51
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,130 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Gorgeous Las Sendas home - under $300K! You'll know you've found your new home as you step into the spacious living room with large windows, tile floors and open media niche. The eat-in kitchen has a large pantry and ample cabinet and counter space. The split bedrooms offer privacy to you and your guests. There is a cozy den for office, exercise or quiet reading and reflection. The master features a walk-in closet, garden tub/shower and make up vanity. Enjoy cool evenings on the patio of the north facing backyard. Interior paint, carpet and blinds - all new in 2020! Resort style living, gated community, and all the amenities of the Las Sendas Trailhead. Golf membership available. Welcome Home!

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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$1,007
Property Tax -$150
Property Insurance -$49
HOA -$47
Property Management Fees -$99
CASH FLOW
-$63

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.

$290,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.44%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,096

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2903$1,445
$1,445
RENT COMPS ANALYSIS
  • 7252 E Melrose Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,130 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,130 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.14
    •  
  • 2625 N Recker Road #3 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.96
    •  
  • 6262 E Nance Street Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.98
    •  
PROPERTY LISTING DETAILS
Lori Thompson-tuter
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192309
Last Updated: 02/14/2021
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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