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8118 E Neville Avenue E Mesa, AZ 85209

2 Beds 2 Baths 1,907 sqft Built 1995

INVESTimate

$320,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$335,424  ( +4.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $167.80
  • 5 Days on Market
  • MLS # : 6121317
  • Updated Date : 08/24/2020 at 19:14
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,907 sqft
  • Baths : 2 full
Listing Agent

Farnsworth Realty & Management Company

Listing Agent's Description

Roller shields throughout,, Tile roof, 10x18 room addition by original builder, open entry, heated & cooled. All rooms nice sized. Nice Curb appeal. Lots of furniture available, kitchen sola tube skylight, jacuzzi tub, north back patio. Great storage.Priced to sell.

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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,181
Property Tax -$193
Property Insurance -$64
HOA -$47
Property Management Fees -$99
CASH FLOW
$36

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.

$320,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.82%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$26,932

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
  • $1,824

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3953$1,5004$1,745
$1,745
RENT COMPS ANALYSIS
  • 8118 E Neville Avenue E Mesa, 1
    • 2 beds 2 baths ∙ 1,907 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,907 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2032 S Luther Avenue Mesa, 2
    • 2 beds 3 baths ∙ 1,566 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,566 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 8241 E Medina Avenue Mesa, 3
    • 2 beds 2 baths ∙ 1,658 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,658 Sqft ∙ Built 1993
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 8605 E Lobo Avenue Mesa, 4
    • 2 beds 2 baths ∙ 1,616 Sqft ∙ Built 2015 2 beds 2 baths ∙ 1,616 Sqft ∙ Built 2015
    LEASED 04/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.08
    •  
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 #: 6121317
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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