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8407 E Edgewood Avenue Mesa, AZ 85208

3 Beds 2 Baths 1,742 sqft Built 2004

$359,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $206.60
  • 4 Days on Market
  • MLS # : 6180923
  • Updated Date : 01/14/2021 at 22:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,742 sqft
  • Baths : 2 full
Listing Agent

Investar Real Estate Specialists Llc

Listing Agent's Description

This charming home with great curb appeal locate is in a very quite neighborhood. It has a beautiful wood look-like tiles throughout the home except the bedrooms. The kitchen has plenty cabintry and pentry space. Backyard is next to a little green area. Please show. It looks great!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $94k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Stevenson Elementary School Primary Regular 750 40 2
Smith Junior High School Middle Regular 988 51 6
Skyline High School High Regular 2,567 121 5

Stevenson Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 40
2
GreatSchools Rating

Smith Junior High School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 51
6
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,250
Property Tax -$225
Property Insurance -$61
HOA -$18
Property Management Fees -$99
CASH FLOW
-$53

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.

$359,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$17,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5504$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 8407 E Edgewood Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 451 S Hawes Road #21 Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 8927 E Crescent Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1999
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 9015 E Gable Avenue Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2002
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 435 S 89th Way Mesa, AZ 5
    • 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1999
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
PROPERTY LISTING DETAILS
Weiguo Tang
Investar Real Estate Specialists Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180923
Last Updated: 01/14/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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