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7917 E Palm Lane Mesa, AZ 85207

4 Beds 3 Baths 2,542 sqft Built 1986

$619,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $243.51
  • 3 Days on Market
  • MLS # : 6157158
  • Updated Date : 11/06/2020 at 15:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,542 sqft
  • Baths : 3 full
Listing Agent

Ensign Properties Corp

Listing Agent's Description

Southwest style charmer, minutes from 202 in the spectacular Desert Uplands. Incredible mountain and city views on all sides and no HOA! Several updates inside and out, serene natural desert landscapes, open concept design, beautiful architectural features, outdoor living atmosphere, and an abundance of character! The expansive one acre lot has mature landscaping, but also plenty of open space to make it your own with things like horses, sports court, workshop, etc. The large open concept kitchen/dining/family room combo has high ceilings, beautiful new flooring, and a gorgeous fireplace. Extra large covered back patio sits poolside, electric car charging setup in garage, large RV gate, in a county island but close to city amenities. Don't miss out on this charming oasis on the mountain!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Uplands

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $109k559k

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

Neighborhood: Desert Uplands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10342843

* 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
 

$557,100$680,900$619,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,284
Property Tax -$325
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$515

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.

$619,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,498

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,3003$2,4504$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 7917 E Palm Lane Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.89
    •  
  • 3060 N Ridgecrest Drive #204 Mesa, AZ 2
    • 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
    •  
  • 3060 N Ridgecrest -- #76 Mesa, AZ 3
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1997
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.90
    •  
  • 3741 N Ladera Circle Mesa, AZ 4
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2001
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
  • 3630 N Canyon Wash Circle Mesa, AZ 5
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2000
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Carley Fischer
Ensign Properties Corp
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157158
Last Updated: 11/06/2020
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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