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9322 E Ellis Street Mesa, AZ 85207

4 Beds 2 Baths 1,587 sqft Built 1999

$350,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $220.54
  • 2 Days on Market
  • MLS # : 6206886
  • Updated Date : 03/14/2021 at 03:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,587 sqft
  • Baths : 2 full
Listing Agent

Mt Real Estate, Llc

Listing Agent's Description

One of the lowest priced 4 bedroom houses in the east valley! This property features 4 true bedrooms, 2 full baths, a grass back and front yard, 2 car garage, and north/south exposure in a neighborhood with views of the Superstition Mountains. The property has a number of recent updates including new carpet in 2019, new A/C in 2020, new window sun shades, cordless blinds and new ceiling fans throughout! The kitchen has a walk in pantry and breakfast bar. The master bedroom features a walk in closet and large bathtub. The backyard has a paved patio and grass throughout. Other benefits include an owned water softener and vaulted ceilings. Conveniently located right down the street from a grocery store and only a couple of minutes to the 202 freeway. Property is vacant and ready to show!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k322k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Smith Junior High School Middle Regular 988 51 6
Skyline High School High Regular 2,567 121 5

Smith Junior High School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 51
6
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,216
Property Tax -$182
Property Insurance -$58
HOA -$40
Property Management Fees -$99
CASH FLOW
$6

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.

$350,000

PROJECTED PRICE

$1,600

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,726

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6003$1,8004$1,8855$1,985
$1,985
RENT COMPS ANALYSIS
  • 9322 E Ellis Street Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 9050 E Fairfield Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1999
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.99
    •  
  • 9019 E Fox Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.13
    •  
  • 1019 N 93rd Place Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 1998
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $1.09
    •  
  • 1035 N 90th Circle Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2003
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $1.14
    •  
PROPERTY LISTING DETAILS
Nicholas A Lundgren
Mt Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206886
Last Updated: 03/14/2021
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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