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9903 E Ignition Drive Mesa, AZ 85212

3 Beds 3 Baths 2,503 sqft Built 2017

$464,500

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $185.58
  • 3 Days on Market
  • MLS # : 6181178
  • Updated Date : 01/15/2021 at 03:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,503 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gentry Real Estate

Listing Agent's Description

Stunning 2017 model like home in Eastmark! Three bedrooms plus an office and loft. The gourmet kitchen features white cabinets, upgraded granite, subway tile backsplash, five burner gas stove, stainless steel appliances, large walk-in pantry, and open shelving. Living room has built in speakers. Home has smart programmable thermostat. Custom light fixtures throughout. Wood look tile floors on first floor. Master bathroom includes custom built barn door, soaker tub, dual vanity sinks, makeup space, linen closet, and large walk in closet. Ceiling fans included in all bedrooms and office. The backyard has a large patio and easy to maintain artificial turf. HOA maintains the front yard. The garage has epoxy floors, a tankless water heater, and a soft water filter. Also, it's right by a park!

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
Jack Barnes Elementary School Primary Regular 489 23 10
Queen Creek Middle School Middle Regular 787 33 6
Queen Creek High School High Regular 1,799 73 5

Jack Barnes Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 23
10
GreatSchools Rating

Queen Creek Middle School

  • Education Level: Middle
  • # of students: 787
  • # of teachers: 33
6
GreatSchools Rating

Queen Creek High School

  • Education Level: High
  • # of students: 1,799
  • # of teachers: 73
5
GreatSchools Rating
 

$418,050$510,950$464,500

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,613
Property Tax -$430
Property Insurance -$76
HOA -$123
Property Management Fees -$99
CASH FLOW
-$91

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.

$464,500

PROJECTED PRICE

$2,250

PROJECTED RENT

0.48%

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$15k

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$128,843

INVESTMENT

$128,843

Down Payment
$116,125
Rehab Estimate
$5,750
Closing Costs
$6,968

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,613

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,125
Loan Amount $348,375
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$17,943

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,297

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2503$2,2504$2,3505$2,450
$2,450
RENT COMPS ANALYSIS
  • 9903 E Ignition Drive Mesa, AZ 3
    • 3 beds 3 baths ∙ 2,503 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,503 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 9809 E Solstice Avenue Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2018
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.88
    •  
  • 9726 E Kinetic Drive Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2019
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 4714 S Curie Way Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2018
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.94
    •  
  • 9739 E Kinetic Drive Mesa, AZ 5
    • 3 beds 3 baths ∙ 2,589 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,589 Sqft ∙ Built 2017
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.95
    •  
PROPERTY LISTING DETAILS
Amanda Hampton
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181178
Last Updated: 01/15/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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