Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

808 E Gable Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,511 sqft Built 1979

$309,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1979
  • Price/Sqft : $204.50
  • 12 Days on Market
  • MLS # : 6150649
  • Updated Date : 10/29/2020 at 15:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,511 sqft
  • Baths : 2 full
Listing Agent

Presidential Realty, Llc

Listing Agent's Description

**Back on market, buyer changed mind**Solid brick home on a large corner lot with NO HOA! Brand new carpet and tile, fresh neutral paint throughout, new quartz counters, cabinets and SS appliances in the kitchen. This home is conveniently located near Sherwood park and lots of shopping! Easy access to the US 60 Freeway and room for toys makes this a fantastic opportunity!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sherwood Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $100k271k

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

Neighborhood: Sherwood Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7921567

* 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
Mesa High School High Regular 3,406 155 4

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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,140
Property Tax -$160
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$106

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.

$309,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,5004$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 808 E Gable Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 1050 S Stapley Drive #1 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 1333 E Grove Circle Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1979
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 536 E Harmony Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 830 S Lazona Drive Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 1959
    property image
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ryan Jones
Presidential Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6150649
Last Updated: 10/29/2020
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.

BESbswy