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8255 E Kiva Avenue #425 Mesa, AZ 85209

2 Beds 2 Baths 1,542 sqft Built 1995

$289,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $188.00
  • 7 Days on Market
  • MLS # : 6164314
  • Updated Date : 11/30/2020 at 09:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,542 sqft
  • Baths : 2 full
Listing Agent

American Realty Brokers

Listing Agent's Description

Great location. Split 2 bedroom, 2 bath condo with a 2 car garage. Spacious kitchen with upgraded cabinets has eat-at counter and opens to the family room and dining area. Sliders off the family room lead to a large south facing covered patio. Large inside laundry and newer roof are just a few of the features of this move-in ready unit. Sunland Village East is an active adult community featuring outstanding tennis facilities, newer pickle ball courts, great golf course, large wood workiing shop, liiprary shop, computer lab, billiards, library, quilting club with their own long arm, state of the art fitness centers, 2 pools, a lap pool, a beautiful softball complex and much, much more.

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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,070
Property Tax -$175
Property Insurance -$57
HOA -$21
Property Management Fees -$99
CASH FLOW
-$102

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.

$289,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.46%

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$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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,580

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,396

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,1503$1,3204$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 8255 E Kiva Avenue #425 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.86
    •  
  • 1250 S Rialto Drive #38 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,227 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,227 Sqft ∙ Built 2007
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.93
    •  
  • 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 4
    • 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 5
    • 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 #: 6164314
Last Updated: 11/30/2020
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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