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8503 E Keats Avenue Mesa, AZ 85209

4 Beds 3 Baths 2,370 sqft Built 2003

$390,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $164.56
  • 3 Days on Market
  • MLS # : 6212019
  • Updated Date : 03/26/2021 at 07:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,370 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Classic

Listing Agent's Description

You are going to love this wonderful home. It is a 4 bedroom, 2 1/2 bath with an open concept kitchen and family room. The large kitchen has beautiful cabinets, a huge island, stainless steel appliances, and granite countertops. The main living areas have Mahogany wood floors with tile in the kitchen. Upstairs you will find four good sized bedrooms, walk in closets, and a large loft area. The master suite has dual sinks, separate tub and shower and a wonderful walk in closet. The private back yard is low maintenance with plenty of paver covered space to entertain. Marbella is a gated community with its own pool and spa. (Conveniently located a short walk from the home) Come see this home soon, as it will not last!! Offers will be reviewed Monday morning.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Marbella

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k271k

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

Neighborhood: Marbella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Desert Ridge Jr. High School Middle Regular 1,377 60 8
Desert Ridge High School High Regular 2,752 119 6
Desert Ridge Jr. High School Middle Unknown NA

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 60
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,355
Property Tax -$235
Property Insurance -$73
HOA -$117
Property Management Fees -$99
CASH FLOW
-$39

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.

$390,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.6%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$19,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,103

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8503$1,8754$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 8503 E Keats Avenue Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.78
    •  
  • 2123 S Luther -- Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 8637 E Monterey Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.87
    •  
  • 2852 S Lynch -- Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2020
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
  • 1662 S 82nd Place Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2020
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
PROPERTY LISTING DETAILS
Daniel Callahan
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212019
Last Updated: 03/26/2021
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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