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8742 E Lomita Avenue Mesa, AZ 85209

4 Beds 3 Baths 1,915 sqft Built 2001

$360,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $187.99
  • 3 Days on Market
  • MLS # : 6202425
  • Updated Date : 03/05/2021 at 21:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,915 sqft
  • Baths : 2 full , 1 half
Listing Agent

Long Realty Partners

Listing Agent's Description

Entering market Friday, March 5! Don't delay!!! Full 4-bed, 2.75-bath with large living room & loft, a bed & bath downstairs...All in a Gated Community and IN TOWN for 360K! New flooring in 2018 and carpet just cleaned. Kitchen has Gas, 110v, & 220v at Range, so chef's Dual-fuel range convertible! Huge Set-backs in garage! Don't dawdle.

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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,250
Property Tax -$217
Property Insurance -$65
HOA -$21
Property Management Fees -$99
CASH FLOW
$168

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.

$360,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.51%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$37,818

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8204$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 8742 E Lomita Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.95
    •  
  • 8750 E Lindner Avenue Mesa, AZ 1
    • 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 2001
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 8549 E Desert Lane Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 8735 E Lakeview Avenue Mesa, AZ 4
    • 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
    •  
  • 8519 E Laguna Azul Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
PROPERTY LISTING DETAILS
Joseph Bennett
Long Realty Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202425
Last Updated: 03/05/2021
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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