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7330 E Edgewood Avenue Mesa, AZ 85208

3 Beds 2 Baths 2,329 sqft Built 1978

$330,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $141.69
  • 7 Days on Market
  • MLS # : 6185371
  • Updated Date : 01/29/2021 at 23:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,329 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

NO MORE SHOWINGS AT THIS TIME. MULTIPLE OFFERS RECEIVED Great golf course property. Huge rooms and nice open floor plan. Stainless steel appliances. Updated secondary bath shower. Low maintenance desert landscaping and citrus trees. Artificial turf area in back. New roof in 2013. Split master. Great neighborhood with HOA that is a onetime $800 fee and no monthly dues. Home does need updating. Buyer to verify all schools and pertinent info. Home has been a rental since purchased.

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PRICE & RENT TRENDS

Neighborhood: Golden Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $101k271k

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

Neighborhood: Golden Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Skyline High School High Regular 2,567 121 5

Fremont Junior High School

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

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,146
Property Tax -$206
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
$156

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.

$330,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.9%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$34,828

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
  • $1,987

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,8504$1,900
$1,900
RENT COMPS ANALYSIS
  • 7330 E Edgewood Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7302 E Lakeview Avenue Mesa, AZ 2
    • 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 1995
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 1741 S Clearview Avenue #74 Mesa, AZ 3
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1993
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 626 S Revolta Circle Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1962 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1962
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
PROPERTY LISTING DETAILS
Sherri Cummings
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185371
Last Updated: 01/29/2021
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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