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8328 E Naranja Avenue Mesa, AZ 85209

2 Beds 2 Baths 1,670 sqft Built 1998

$305,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $182.63
  • 3 Days on Market
  • MLS # : 6183969
  • Updated Date : 01/22/2021 at 19:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

American Realty Brokers

Listing Agent's Description

Exciting new living awaits you with this upgraded and well maintained split two bedroom home. The step saver kitchen has a roomy dining area with sliding doors to an expanded covered patio in your enclosed back yard.. Spacious family room. When friends come to visit they will have a separate living quarters at the opposite end of the house from the main bedroom. Main bedroom offers a walk-in closet and upgraded walk-in shower. Front living room and guest bedrooms have plantation shutters. Recently painted. This home is move in ready.

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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,059
Property Tax -$184
Property Insurance -$60
HOA -$4
Property Management Fees -$99
CASH FLOW
$73

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.

$305,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.49%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$25,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4804$1,500
$1,500
RENT COMPS ANALYSIS
  • 8328 E Naranja Avenue Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,670 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,670 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.89
    •  
  • 2032 S Luther Avenue Mesa, AZ 1
    • 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
    •  
  • 2437 S Tulip Avenue Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1994
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.02
    •  
  • 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 #: 6183969
Last Updated: 01/22/2021
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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