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8550 E Monte Avenue Mesa, AZ 85209

4 Beds 3 Baths 2,160 sqft Built 2000

$400,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $185.19
  • 4 Days on Market
  • MLS # : 6187573
  • Updated Date : 02/05/2021 at 17:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,160 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

THIS is the Home You Have Been Waiting For! Upgraded 4 bedroom, 2.5 bath home. Beautiful Hard Surface Floors throughout. Kitchen with Crisp White Cabinets and Island, open to Family Room. Follow the wood railed staircase to a Spacious Master Retreat. Enjoy your relax time on the full length Balcony with Stunning Mountain Views. Oversized secondary bedrooms as well. Step outside to your Large Backyard with a HEATED POOL and lawn perfect for the kids and pets. Storage Galore in your 2.5 car garage. Home is located Next to lush Greenbelt/Park with walking paths. RV gate~N/S facing~Gas Stub for Stove & BBQ~ GILBERT Schools~ Excellent Freeway access~The list goes on and on! HURRY at this price point this Home WILL NOT LAST!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lesueur Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: Lesueur Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9871567

* 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
 

$360,000$440,000$400,000

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 -$1,389
Property Tax -$241
Property Insurance -$69
HOA -$18
Property Management Fees -$99
CASH FLOW
$23

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.

$400,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.46%

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$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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$26,238

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
  • $0.85

    LIST RENT PER SQFT
  • $1,960

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8503$1,8754$1,8955$1,995
$1,995
RENT COMPS ANALYSIS
  • 8550 E Monte Avenue Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.85
    •  
  • 8735 E Lakeview Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2000
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 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
    •  
  • 2832 S Lynch Circle Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2020
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
  • 2852 S Lynch -- Mesa, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Ronald Bussing
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187573
Last Updated: 02/05/2021
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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