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8310 E Monterey Avenue Mesa, AZ 85209

2 Beds 2 Baths 1,093 sqft Built 1994

$296,500

List Price

$1,130

$1K - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $271.27
  • 6 Days on Market
  • MLS # : 6192203
  • Updated Date : 03/09/2021 at 17:41
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,093 sqft
  • Baths : 2 full
Listing Agent

Prosmart Realty

Listing Agent's Description

Fully furnished immaculate 2 bedroom/2 bath home in sought after Sunland Village East an active 55+ golf community. This home features a large open living room, dining room with tile plank flooring. The kitchen shows honey oak cabinets, neutral countertop, pullout shelves, a pantry and tile flooring. The Master suite in complete with a walk-in closet and tile shower. Through the kitchen is a spacious hobby room/ office. Exterior features include a tile roof, a large front covered patio and large rear covered patio and extended patio with pavers. Extra-large rear yard is very private and professionally landscaped. Enjoy all the amenities including pickleball, tennis, pools, hot tubs, woodshop, ceramics, card rooms, billiards, and so 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
Desert Ridge Jr. High School Middle Regular 1,377 60 8
Desert Ridge High School High Regular 2,752 119 6
Desert Ridge Jr. High School Middle Unknown NA

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

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$266,850$326,150$296,500

PURCHASE PRICE

$1,017$1,243$1,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,130
EXPENSES Loan Payment -$1,030
Property Tax -$179
Property Insurance -$49
HOA -$4
Property Management Fees -$99
CASH FLOW
-$231

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.

$296,500

PROJECTED PRICE

$1,130

PROJECTED RENT

0.38%

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

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$84,323

INVESTMENT

$84,323

Down Payment
$74,125
Rehab Estimate
$5,750
Closing Costs
$4,448

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,030

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,125
Loan Amount $222,375
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$3,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,130

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,122

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,130
1$1,1302$1,1503$1,2954$1,485
$1,485
RENT COMPS ANALYSIS
  • 8310 E Monterey Avenue Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,093 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,093 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,130
    • $1.03
    •  
  • 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
    •  
  • 2064 S Farnsworth Drive #13 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,192 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,192 Sqft ∙ Built 1987
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 2055 S Luther -- Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,362 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,362 Sqft ∙ Built 2003
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.09
    •  
PROPERTY LISTING DETAILS
Brian Christopher Mckernan
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192203
Last Updated: 03/09/2021
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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