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8726 E Hobart Street Mesa, AZ 85207

4 Beds 3 Baths 2,294 sqft Built 2001

$449,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $195.73
  • 3 Days on Market
  • MLS # : 6196018
  • Updated Date : 02/19/2021 at 01:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,294 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Well Maintained single story, 3 bed + DEN, 2.5 baths, 3 Car split garage with separate exit, 10ft ceilings & Large lot with RV gate situated in a PRIME location just minutes from the 202 freeway, lakes & hiking trails! New flooring (carpet / tile in bedrooms, bathrooms & office / den) - 2015 Completely remoded master bath w/gorgeous walk-in shower (2020). New cabinets, countertops, mirrors, faucets & light fixtures in 2nd bath (2015). Gutters -2015, Beautiful backyard remodel - 2018, Roof - refelt - 2015 South facing situated on a 10,000 square foot lot. Great views & hiking surrounding the subdivision.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Grandview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k488k

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

Neighborhood: Grandview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10342296

* 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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,560
Property Tax -$233
Property Insurance -$72
HOA -$17
Property Management Fees -$99
CASH FLOW
$220

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$449,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$46,794

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
  • $2,386

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1503$2,4004$2,600
$2,600
RENT COMPS ANALYSIS
  • 8726 E Hobart Street Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8528 E Kael Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
  • 9765 E Inglewood Circle Mesa, AZ 3
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 1955 N Red Cliff -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 2,423 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,423 Sqft ∙ Built 2017
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
PROPERTY LISTING DETAILS
Dena Greenawalt
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196018
Last Updated: 02/19/2021
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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