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7904 E Obispo Avenue Mesa, AZ 85212

4 Beds 2 Baths 2,532 sqft Built 1998

INVESTimate

$369,900

List Price

$2,010

$1,809 - $2,211

Rent Est.

$397,125  ( +7.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $146.09
  • 6 Days on Market
  • MLS # : 6120476
  • Updated Date : 08/24/2020 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,532 sqft
  • Baths : 2 full
Listing Agent

Az Real Estate Options, Llc

Listing Agent's Description

Beautiful spacious Ryland home across from community green belt. This split floor plan house sitting on a larger corner lot will grab your attention from the moment you pull up. The attractive elevation includes stone accents and designer landscape front and back. The crown jewel of the backyard is a mature Orchid tree (with fragrance and beauty that will take your breath away in the Spring)! With a large eat in kitchen, to dining room, living and family room there is a space to entertain all your guests. Other upgrades include 16x16 tile on a diagonal, solid granite counter tops, and a large fenced off side yard for a dog run or garden. This home is ready for you to come add your touches and make it yours. A large home, and large corner lot, with a 3 car garage is hard to come by!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Boulder Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Boulder Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10181639

* 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
Boulder Creek Elementary School Primary Regular 690 42 6
Desert Ridge Jr. High School Middle Regular 1,377 60 8
Desert Ridge High School High Regular 2,752 119 6

Boulder Creek Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 42
6
GreatSchools Rating

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 60
8
GreatSchools Rating

Desert Ridge High School

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

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

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,365
Property Tax -$223
Property Insurance -$77
HOA -$35
Property Management Fees -$99
CASH FLOW
$211

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

$2,010

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

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 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$50,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,171

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,9953$2,0104$2,2655$2,295
$2,295
RENT COMPS ANALYSIS
  • 7904 E Obispo Avenue Mesa, 3
    • 4 beds 2 baths ∙ 2,532 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,532 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.79
    •  
  • 7323 E Navarro Avenue Mesa, 1
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 1996
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.78
    •  
  • 7422 E Navarro Avenue Mesa, 2
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 7051 E Onza Avenue Mesa, 4
    • 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 2017
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,265
    • $0.88
    •  
  • 7404 E Osage Avenue Mesa, 5
    • 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,572 Sqft ∙ Built 2015
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.89
    •  
PROPERTY LISTING DETAILS
Roger Childers
Az Real Estate Options, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120476
Last Updated: 08/24/2020
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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