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7411 E Norwood Street Mesa, AZ 85207

3 Beds 2 Baths 2,126 sqft Built 2001

$499,500

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $234.95
  • 3 Days on Market
  • MLS # : 6202780
  • Updated Date : 03/06/2021 at 17:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,126 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Location Location! Wonderful neighborhood! Split/Open floor plan with open office builtins, Bright eat- kitchen with beautiful Granite counter tops, 3 bedrooms with spacious walk-in closets, 2 full baths, ready to move in! CAN you say FABULOUS Entertaining, New Professional renovation Back yard! Full kitchen w/bar/gas grill, Resort like HEATED Hot tub~ pool heated with solar ~ fountains Extensive Enhancement lighting, and a welcoming Gas fire pit~sitting area. Travertine Tile to totally accent the whole back yard along with a sitting area with a built in TV. with impeccable landscaping with palms trees. And both side of the back yard have extra space with gates.3 car garage with builtin for extra storage, big enough for those SUVs. Close to shopping, dining, hiking &Golfing.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greyfox

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k390k

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

Neighborhood: Greyfox

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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
 

$449,550$549,450$499,500

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,735
Property Tax -$259
Property Insurance -$69
HOA -$41
Property Management Fees -$99
CASH FLOW
-$262

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.

$499,500

PROJECTED PRICE

$1,940

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.1%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,118

INVESTMENT

$138,118

Down Payment
$124,875
Rehab Estimate
$5,750
Closing Costs
$7,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,735

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,875
Loan Amount $374,625
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$10,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,206

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,0003$2,1504$2,2005$2,260
$2,260
RENT COMPS ANALYSIS
  • 7411 E Norwood Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.91
    •  
  • 2931 N Augustine -- Mesa, AZ 2
    • 4 beds 4 baths ∙ 2,091 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,091 Sqft ∙ Built 2019
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 2945 N Augustine -- Mesa, AZ 3
    • 3 beds 4 baths ∙ 2,091 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,091 Sqft ∙ Built 2018
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.03
    •  
  • 7360 E Norwood Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 2922 N Athena -- Mesa, AZ 5
    • 4 beds 4 baths ∙ 2,091 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,091 Sqft ∙ Built 2019
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.08
    •  
PROPERTY LISTING DETAILS
Ann Hickman
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202780
Last Updated: 03/06/2021
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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