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8323 E Lobo Avenue Mesa, AZ 85209

3 Beds 2 Baths 1,934 sqft Built 1988

$325,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $168.05
  • 7 Days on Market
  • MLS # : 6165966
  • Updated Date : 12/05/2020 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,934 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

FULL REMODEL Top to Bottom in Sunland Village East *3bd 2bath 1934sqft 2Car Gar w/ Nce Curb Appeal *OPEN LAYOUT w/ Lrge Kitchn Great Rm&Dinng Area *Beautiful NEW 42''White Shaker Kitchn Cabints w/QUARTZ Countertps,LARGE Kitchn Island w/ Pendant Lghts *NEW Stainless Steel Appl *New Garbge Disposal *NEW RECESSED Lghts,Ceilng Fans&Lightng thru Entire Home *NEW Paint Insde&Out *NEW Vinyl Wood Plank Fl *Large Bdrms w/ NEW Carpet *New Vanities w/Quartz Countertps in bths *Mstr Bth features NEW TILE SHOWER *NEW Garge Dr&Opener *NEW Water Heatr *HUGE Lndry Rm/Utility Rm w/Wash Sink *Large Covrd Patio in Bckyrd w/ Low Maint Landscpng *Sunland Vill East is a 55+Communty w/ a cnvenient Mesa loc *Easy acc to shoppng,freeways, entrtnmnt, medical facilits &Phoenix-Mesa Gatewy Airprt*

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,199
Property Tax -$196
Property Insurance -$65
HOA -$4
Property Management Fees -$99
CASH FLOW
-$103

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.

$325,000

PROJECTED PRICE

$1,460

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$15,066

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,765

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5503$1,6574$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 8323 E Lobo Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.75
    •  
  • 8514 E Kiowa Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2001
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 8547 E Lobo Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2001
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,657
    • $0.86
    •  
  • 8549 E Desert Lane Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 8519 E Laguna Azul Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
PROPERTY LISTING DETAILS
James Lombardi
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165966
Last Updated: 12/05/2020
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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