Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9616 E Olla Avenue Mesa, AZ 85212

3 Beds 2 Baths 2,308 sqft Built 2001

$495,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $214.47
  • 3 Days on Market
  • MLS # : 6196236
  • Updated Date : 02/20/2021 at 22:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,308 sqft
  • Baths : 2 full
Listing Agent

Tinzie Realty

Listing Agent's Description

Looking for a home in Mesquite Canyon? You found it! Carefully maintained home has over 2300 sf, 3 bedrooms and a den, 2 bathrooms, a fabulous open floor plan and yes, a POOL!Did we mention the hot tub? And the landscaped yards? Or the RV gate and extra parking spaces? Yes, this house has it all. And you guessed it...it won't take long for someone to snap this up. Schedule a showing TODAY!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k328k

* 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
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
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,719
Property Tax -$299
Property Insurance -$72
HOA -$17
Property Management Fees -$99
CASH FLOW
-$437

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.

$495,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.36%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6953$1,7494$1,7505$1,770
$1,770
RENT COMPS ANALYSIS
  • 9616 E Olla Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,308 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,308 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.77
    •  
  • 9042 E Plana Avenue Mesa, AZ 1
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2003
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.76
    •  
  • 3002 S 92nd Circle Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 2000
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 8924 E Pampa Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2004
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.82
    •  
  • 8906 E Oro Avenue Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 2003
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
PROPERTY LISTING DETAILS
Shanna Grossman
Tinzie Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196236
Last Updated: 02/20/2021
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.

BESbswy