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8012 E Monte Avenue Mesa, AZ 85209

2 Beds 2 Baths 1,154 sqft Built 1992

$294,500

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $255.20
  • 9 Days on Market
  • MLS # : 6184989
  • Updated Date : 01/27/2021 at 23:21
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,154 sqft
  • Baths : 2 full
Listing Agent

Farnsworth Realty & Management Company

Listing Agent's Description

Impeccable, clean, fresh paint, flooring and furniture like an HDTV model. Walled back yard,Custom expansion at original construction opens great room to nice dining area. Curb appeal, custom front porch and brick trim. Newer heat pump. Fully furnished with coordinated presentation.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunland Village East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k277k

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

Neighborhood: Sunland Village East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
 

$265,050$323,950$294,500

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$1,023
Property Tax -$178
Property Insurance -$50
HOA -$4
Property Management Fees -$99
CASH FLOW
-$164

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.

$294,500

PROJECTED PRICE

$1,190

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.8%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,793

INVESTMENT

$83,793

Down Payment
$73,625
Rehab Estimate
$5,750
Closing Costs
$4,418

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,023

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,625
Loan Amount $220,875
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,183

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1503$1,2954$1,4005$1,485
$1,485
RENT COMPS ANALYSIS
  • 8012 E Monte Avenue Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,154 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,154 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9255 E Lompoc Avenue Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,275 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,275 Sqft ∙ Built 2000
    LEASED 08/30/30
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.90
    •  
  • 2064 S Farnsworth Drive #13 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,192 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,192 Sqft ∙ Built 1987
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 2437 S Tulip Avenue Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1994
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.02
    •  
  • 2055 S Luther -- Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,362 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,362 Sqft ∙ Built 2003
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.09
    •  
PROPERTY LISTING DETAILS
William G Barker
Farnsworth Realty & Management Company
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184989
Last Updated: 01/27/2021
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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