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PROPERTY INFO
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!!
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PRICE & RENT TRENDS
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$71,974
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,475 |
| Loan Amount | $187,425 |
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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$834
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
-
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
Homesmart
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6157543
Last Updated: 11/07/2020
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.
