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9813 E Glencove Street Mesa, AZ 85207

4 Beds 2 Baths 2,804 sqft Built 2003

INVESTimate

$557,000

List Price

$2,430

$2,187 - $2,673

Rent Est.

$585,240  ( +5.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $198.64
  • 4 Days on Market
  • MLS # : 6121681
  • Updated Date : 08/24/2020 at 10:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,804 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Immaculate, well maintained, 3car, 4bedroom, 2bath main home, along with a separate entrance casita that has its own kitchen, bath, laundry, and a custom murphy bed. The main kitchen boasts upgraded granite, beautiful wood cabinetry, and stainless steel appliances. There is also an oasis backyard highlighted by a sparkling pool with newly installed filter and heater, covered patio and pergola, along with another outside entry bath for convenient pool guest use. There is also a large side yard with poured concrete and an RV gate. New HVAC 2020 and water heater 2018, several updated windows and sunscreens, new garage door motor, upgraded attic insulation, sealed duct work and new irrigation system are just a few of the improvements that take this already amazing home from great to phenomenal

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PRICE & RENT TRENDS

Neighborhood: Saguaro Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k459k

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

Neighborhood: Saguaro Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10342360

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Skyline High School High Regular 2,567 121 5

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Skyline High School

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

$501,300$612,700$557,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,055
Property Tax -$289
Property Insurance -$82
HOA -$157
Property Management Fees -$99
CASH FLOW
-$252

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.

$557,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.07%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,355

INVESTMENT

$153,355

Down Payment
$139,250
Rehab Estimate
$5,750
Closing Costs
$8,355

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,250
Loan Amount $417,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$17,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,458

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2953$2,4304$3,295
$3,295
RENT COMPS ANALYSIS
  • 9813 E Glencove Street Mesa, 3
    • 4 beds 2 baths ∙ 2,804 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,804 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.87
    •  
  • 1503 N Steele -- Mesa, 1
    • 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 2001
    property image
    LEASED 04/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.73
    •  
  • 9027 E Hobart Street Mesa, 2
    • 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2001
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.81
    •  
  • 9552 E Kramer Circle Mesa, 4
    • 4 beds 4 baths ∙ 3,026 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,026 Sqft ∙ Built 1998
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.09
    •  
PROPERTY LISTING DETAILS
Jacqueline Rome
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121681
Last Updated: 08/24/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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