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8502 E Carol Avenue Mesa, AZ 85208

4 Beds 2 Baths 1,508 sqft Built 1997

$315,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $208.89
  • 2 Days on Market
  • MLS # : 6168158
  • Updated Date : 12/05/2020 at 10:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Beautiful fully remodeled 4/2 in Mesa with no HOA!! This beautiful property has a nice contemporary open concept floor plan. The amenities include new stainless steel appliances, gorgeous white granite counter tops, new kitchen cabinets, new title throughout the house and a tile showers. new paint inside and out, washer and dryer included, huge back yard perfect for entertaining family or friends.

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Skyline High School High Regular 2,567 121 5

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

Skyline High School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,162
Property Tax -$197
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$175

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.

$315,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.43%

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

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,246

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
  • $1,297

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3953$1,4004$1,4255$1,495
$1,495
RENT COMPS ANALYSIS
  • 8502 E Carol Avenue Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8500 E Southern Avenue #3 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2001
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 451 S Hawes Road #21 Mesa, AZ 3
    • 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
    •  
  • 451 S Hawes Road #80 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2007
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.83
    •  
  • 8927 E Crescent Avenue Mesa, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Norma Carranza
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168158
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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