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8034 E 2nd Avenue Mesa, AZ 85208

3 Beds 3 Baths 1,600 sqft Built 1950

$342,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $213.75
  • 3 Days on Market
  • MLS # : 6211248
  • Updated Date : 03/28/2021 at 05:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Newly remodeled home on a county island in Mesa, AZ offering 3 bedrooms + office, 2.5 bathrooms, a big backyard with 2 RV gates, workshop, and storage shed. Open floor plan with granite countertops in kitchen, matching stainless steel appliances, new tile flooring, new carpet, and new AC unit. Make sure to check out the virtual tour.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Sage

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $68k271k

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

Neighborhood: Desert Sage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7961567

* 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
Skyline High School High Regular 2,567 121 5

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$307,800$376,200$342,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,188
Property Tax -$202
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$83

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.

$342,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$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$96,380

INVESTMENT

$96,380

Down Payment
$85,500
Rehab Estimate
$5,750
Closing Costs
$5,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,188

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,500
Loan Amount $256,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$27,940

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
  • $1,771

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5853$1,6754$1,750
$1,750
RENT COMPS ANALYSIS
  • 8034 E 2nd Avenue Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1950 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 924 S Longwood Loop Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1962
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.08
    •  
  • 8122 E 3rd Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1957
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.20
    •  
  • 6942 E Exmoor Drive Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Abdulhadi Al Sayyed
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6211248
Last Updated: 03/28/2021
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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