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8119 E Medina Avenue Mesa, AZ 85209

2 Beds 2 Baths 1,625 sqft Built 1988

$294,500

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $181.23
  • 5 Days on Market
  • MLS # : 6155897
  • Updated Date : 11/04/2020 at 08:39
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,625 sqft
  • Baths : 2 full
Listing Agent

American Realty Brokers

Listing Agent's Description

A large covered front porch highlights the distinctive styling on this all brick front spacious expanded and upgraded two bedroom, two bath home. Large living room joins a gracious dining area that opens to an Arizona room for year around entertaining enjoyment. The upgraded kitchen is conveniently located next to the inside laundry room with access doors to the bonus room and garage. Master bedroom has two closets plus private bath. Second bedroom is adjacent to a large hall bath. Two car garage with storage cabinets plus storage room. Large covered patio with mature trees in the back yard. Newer roof and water softener and irrigation system. Great location in a community that offers Tennis, Pickleball, Fitness Centers, Swimming Pools, Library, and much more. Move in ready home.

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

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,087
Property Tax -$178
Property Insurance -$59
HOA -$4
Property Management Fees -$99
CASH FLOW
-$96

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

$1,330

PROJECTED RENT

0.45%

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$900k

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

$1,087

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,625
Loan Amount $220,875
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$13,495

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
  • $1,457

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1503$1,3954$1,500
$1,500
RENT COMPS ANALYSIS
  • 8119 E Medina Avenue Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,625 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,625 Sqft ∙ Built 1988
    • 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
    •  
  • 2032 S Luther Avenue Mesa, AZ 3
    • 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, AZ 4
    • 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
    •  
PROPERTY LISTING DETAILS
Paul Christoffers
American Realty Brokers
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155897
Last Updated: 11/04/2020
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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