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7359 E Drummer Avenue Mesa, AZ 85208

3 Beds 2 Baths 1,411 sqft Built 1986

$334,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $237.35
  • 3 Days on Market
  • MLS # : 6160986
  • Updated Date : 11/20/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,411 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

This newly remodeled house is turn key! Perfectly close to the US 60. Fresh new exterior paint, new kitchen, updated bathrooms, all new floors and more! Plenty of room for your RV and toys. An extra space in garage for workshop, no H.O.A.. Come see this adorable HOME before it's gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pioneer Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Pioneer Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,236
Property Tax -$209
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$259

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.

$334,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,242

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3403$1,3954$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 7359 E Drummer Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.95
    •  
  • 1739 S 78th Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1995
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.82
    •  
  • 216 N 76th Place Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 7903 E Gale Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 1741 S Clearview Avenue #44 Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1994
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
PROPERTY LISTING DETAILS
Melissa Lynn Gierhahn
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160986
Last Updated: 11/20/2020
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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