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8502 E Edgewood Avenue Mesa, AZ 85208

2 Beds 1 Baths 1,056 sqft Built 1974

$249,900

List Price

$960

$864 - $1.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $236.65
  • 2 Days on Market
  • MLS # : 6157543
  • Updated Date : 11/07/2020 at 14:24
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,056 sqft
  • Baths : 1 full
Listing Agent

Homesmart

Listing Agent's Description

Turn key, beautiful remodeled corner lot block home. 2 bed 1 bath with fully finished addition that can be used as 3rd bedroom. Complete interior is brand new, starting with new textured walls & ceilings, vinyl plank water resistant flooring, new dual pane windows, new doors, trims & baseboards, light gray tone interior paint, new electric fixtures, LED lighting, ceiling fans, new plumbing fixtures, subway tiled shower, new vanity etc. New A/C unit, all new duct work & registers, new insulation, new water heater, updated 200 amp electric panel. New Kitchen cabinets , granite countertops, stainless steel dishwasher, microwave & gas stove. Big corner lot, and ample room for any expansion project. Come and see it soon!!

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$864$1,056$960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $960
EXPENSES Loan Payment -$922
Property Tax -$147
Property Insurance -$48
Property Management Fees -$99
CASH FLOW
-$256

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.

$249,900

PROJECTED PRICE

$960

PROJECTED RENT

0.38%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,869

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
  • $834

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9503$950
$950
RENT COMPS ANALYSIS
  • 8502 E Edgewood Avenue Mesa, AZ 1
    • 2 beds 1 baths ∙ 1,056 Sqft ∙ Built 1974 2 beds 1 baths ∙ 1,056 Sqft ∙ Built 1974
    • 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
    •  
PROPERTY LISTING DETAILS
Danny G Jaramillo
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157543
Last Updated: 11/07/2020
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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