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8350 E Emelita Avenue Mesa, AZ 85208

2 Beds 2 Baths 1,440 sqft Built 1978

$299,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $207.64
  • 6 Days on Market
  • MLS # : 6182927
  • Updated Date : 01/19/2021 at 19:24
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,440 sqft
  • Baths : 1 full , 1 half
Listing Agent

Second Mile Realty

Listing Agent's Description

UNBELIEVABLE views & HUGE lot in Fountain of the Sun! Fully furnished, popular Hopi split bedroom plan.Extremely well maintained & ready for your seasonal or forever home. Beautiful 20' X 10' Arizona room so you can view Painted Mountain from inside or out! Located in the highly desirable Active Adult 55+ Community with Golf Course, on location restaurant, 24 Hour Guard Gated Security, Club House, Pool, Pickle Ball Courts & Much More...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $96k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9811567

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Fremont Junior High School High Regular 976 48 7

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$1,039
Property Tax -$155
Property Insurance -$55
HOA -$7
Property Management Fees -$99
CASH FLOW
-$125

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.

$299,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,213

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
  • $1,166

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9503$9504$1,100
$1,100
RENT COMPS ANALYSIS
  • 8350 E Emelita Avenue Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,440 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,440 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8103 E Southern Avenue #319 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 8103 E Southern Avenue #311 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 1043 S Florence Drive Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Janette Gentry
Second Mile Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182927
Last Updated: 01/19/2021
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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