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7413 E Milagro Avenue Mesa, AZ 85209

4 Beds 3 Baths 1,656 sqft Built 1995

$394,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $237.92
  • 3 Days on Market
  • MLS # : 6202140
  • Updated Date : 03/07/2021 at 03:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,656 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Bright, Open Floorplan in beautiful Superstition Springs! Looks like a model home! Right around the corner from park and minutes to Monterey Park! Gorgeous, Open kitchen with granite! Updated cabinets! Walk-in Pantry! BIG master bedroom with walk-in closet! doublesinks! Garden tub! All bathrooms remodeled! BEAUTIFUL backyard with Sparkling, blue pool with waterfall! Pavers and Pergola! extra concrete! Updated light fixtures/fans everywhere! wifi=Nest Tstat, Ring doorbell! AC unit 2019! Tile in all the right spots! Garage has cabinets! 2ft extension on right side! plumbed for utility sink! Gas heat and water heater! 3 bedrooms up and 1 bedroom down! Formal dining room could be office/study area/toy room! Awesome location close to shopping and freeways!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Superstition Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k287k

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

Neighborhood: Superstition Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181588

* 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
Highland Jr High School Middle Regular 1,269 59 8
Desert Ridge High School High Regular 2,752 119 6
Highland Jr High School Middle Unknown NA

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$354,600$433,400$394,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,369
Property Tax -$238
Property Insurance -$59
HOA -$13
Property Management Fees -$99
CASH FLOW
-$48

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.

$394,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,160

INVESTMENT

$110,160

Down Payment
$98,500
Rehab Estimate
$5,750
Closing Costs
$5,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,369

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,500
Loan Amount $295,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$20,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,7303$1,7344$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 7413 E Milagro Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.04
    •  
  • 7118 E Meseto Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1994
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.04
    •  
  • 7344 E Medina Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1995
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,734
    • $1.01
    •  
  • 7331 E Navarro Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1995
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 7355 E Laguna Azul Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1994
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
PROPERTY LISTING DETAILS
Ben Swanson
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202140
Last Updated: 03/07/2021
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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