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7300 W Mead Ave Yakima, WA 98908

3 Beds 2 Baths 1,405 sqft Built 1988

$315,000

List Price

$1,428

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $224.20
  • 3 Days on Market
  • MLS # : 21-111
  • Updated Date : 01/16/2021 at 21:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,405 sqft
  • Baths : 2 full
Listing Agent

Heritage Moultray Real Estate Serv

Listing Agent's Description

Come see this wonderful home that you will not want to leave because of the comfort, security and immense entertainment options in the backyard that will make you feel like you are on a mini getaway. This beauty has had a plethora of upgrades inside and out over recent years. As you walk inside, immediately you will notice the openness of the home that is only amplified by the vaulted ceilings and new lighting. As well as, newly purchased stainless steel appliances that provide a shine in the kitchen area. Once entering the main bedroom, you will enjoy a delightful remodel in the bathroom that offers a spa-like shower and walk-in closet. On the other side of the home you will find two more bedrooms.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 98908

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k241k

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

Zip Code: 98908

No Data Available.

* 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
Wide Hollow Elementary School Primary Regular 371 24 9
West Valley Middle School Middle Regular 813 38 6
West Valley High School High Regular 1,040 44 6

Wide Hollow Elementary School

  • Education Level: Primary
  • # of students: 371
  • # of teachers: 24
9
GreatSchools Rating

West Valley Middle School

  • Education Level: Middle
  • # of students: 813
  • # of teachers: 38
6
GreatSchools Rating

West Valley High School

  • Education Level: High
  • # of students: 1,040
  • # of teachers: 44
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,285$1,571$1,428

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,428
EXPENSES Loan Payment -$1,094
Property Tax -$242
Property Insurance -$55
Property Management Fees -$109
CASH FLOW
-$72

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.

$315,000

PROJECTED PRICE

$1,428

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,428

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,428
1$1,428
$1,428
RENT COMPS ANALYSIS
  • 7300 W Mead Ave Yakima, WA
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,428
    • $1.02
    •  
PROPERTY LISTING DETAILS
Drew Harris
1.509.901.1948
Heritage Moultray Real Estate Serv
BESbswy