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7503 E Odessa Circle Mesa, AZ 85207

4 Beds 3 Baths 2,450 sqft Built 1999

$550,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $224.49
  • 2 Days on Market
  • MLS # : 6206812
  • Updated Date : 03/13/2021 at 18:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,450 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Come and check out this lovely home at Ironwood Pass in Las Sendas. This gated community has something for everyone hiking, biking, golfing, a recreation center, playgrounds, parks, community pool, spa, and workout facility. This property features a spacious floorplan, a bright open eat in kitchen for all to enjoy. Schedule your showing today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k477k

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

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10342434

* 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
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,910
Property Tax -$285
Property Insurance -$75
HOA -$40
Property Management Fees -$99
CASH FLOW
-$250

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.

$550,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.0%
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$1.4M

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$13,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,328

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,1604$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7503 E Odessa Circle Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.88
    •  
  • 3055 N Red Mountain #138 Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1996
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 2944 N Athena -- Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2018
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 3060 Ridgecrest -- #204 Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
  • 3060 N Ridgecrest Drive #204 Mesa, AZ 5
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
PROPERTY LISTING DETAILS
Geoffrey Adams
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206812
Last Updated: 03/13/2021
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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