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7402 E Flower Avenue Mesa, AZ 85208

3 Beds 3 Baths 2,180 sqft Built 2018

$369,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $169.68
  • 2 Days on Market
  • MLS # : 6181881
  • Updated Date : 01/16/2021 at 22:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,180 sqft
  • Baths : 2 full , 1 half
Listing Agent

S.j. Fowler Real Estate, Inc.

Listing Agent's Description

Beautiful 3 bed 2.5 bath home shows like a model & is located on one of the nicest lots in the community. Welcome to efficient open concept living with tile floors, plantation shutters, triple zone Ac control & dimmers to control most lighting throughout, all with a soothing paint palate. The kitchen boasts stainless steel appliances, granite counter tops, gorgeous 42in cabinetry & breakfast bar seating. You'll love the sliding 12ft wall opening to screened AZ room, ideal for gathering with family & friends. You can also enjoy working from home in comfort with the large office/den. Upstairs features a spacious loft with many possibilities! 2 large bedrooms with ample closet space, guest bath & laundry. The Master includes a private en suite with dual sinks, oversized shower & walkin closet

SEE MORE

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
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
 

$332,910$406,890$369,900

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 -$1,285
Property Tax -$231
Property Insurance -$70
HOA -$120
Property Management Fees -$99
CASH FLOW
-$125

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.

$369,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.45%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,668

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
  • $1,809

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6574$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 7402 E Flower Avenue Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 153 N Greenwood Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2003
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 8547 E Lobo Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2001
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,657
    • $0.86
    •  
  • 141 N Greenwood -- Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2003
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 2123 S Luther -- Mesa, AZ 5
    • 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
PROPERTY LISTING DETAILS
Robert Towne
S.j. Fowler Real Estate, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181881
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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