$1,445,000
Investment Summary
- Monthly Cash Flow
- -$3,220
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -11.6%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -7.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Exquisite curb appeal and exceptional craftsmanship converge in this Santa Barbara-inspired estate, nestled in Avalon Grove, one of the most enchanting gated enclaves in the coveted 'Citrus Corridor' of North Mesa. Offering timeless elegance in a true storybook setting, this all-custom, tree-lined community exudes character and charm with majestic mature trees, a private tennis court and park, and a level of privacy and beauty rarely found. Set on an expansive, irrigated 30,000+ square foot lot, the home enjoy north/south exposure, capturing soft natural light throughout the day while maintaining year-round comfort. With more than 4,289 square feet of refined living space, soaring ceilings, and an ideal floor plan, the home features 4 bedrooms, 4.5 baths, and a distinguished private den. A circular driveway leads to a stone-accented façade crowned with an authentic clay tile roof and timeless architectural details, while a state-of-the-art security system offers modern peace of mind. Step inside and a grand living room welcomes you with expansive north-facing glass windows that frame lush greenery and flood the space with light. The great room offers a warm, inviting atmosphere centered around a hand-carved Cantera stone fireplace that anchors the home's elegant style. Both formal and breakfast dining areas make entertaining effortless, while the chef's kitchen blends artistry and practicality with upgraded Wolf and Sub-Zero appliances, generous counter space, and finely crafted cabinetry. The gourmet kitchen showcases dual Wolf wall ovens, a five-burner Wolf gas range, built-in microwave, 48" Sub-Zero built-in refrigerator, and dual sinks-- one main and one prep, as well as a large walk-in pantry. A Cantera-stone-lined niche leads to the primary suite-- a private sanctuary with a spa-inspired bath featuring a large walk-in shower, jetted tub, expansive dual-sink vanity, and generous granite counters. The elegant walk-in closet offers customized shelving, drawers, and pull-down hanging storage. Three additional guest rooms offer customized walk-in closets and ensuite baths, with two bedrooms connected by an oversized Jack-and-Jill bath that also provides direct access to the backyard. The private office is a showcase of character and craftsmanship, featuring bespoke built-in shelving and cabinetry, intricate fluted trim with corbels, and a striking wood-beamed ceiling. Complete with an ensuite bath and walk-in closet, this space offers exceptional flexibility for work or guests. Outdoors, multiple covered travertine-tiled patios, stunning mature palms, citrus trees, and desert flora create a tranquil retreat complete with automatic sprinkler & drip systems and flood irrigation access for watering larger perimeter trees and plants. With ample space to design your dream pool or build a private guest casita or additional garage space, the property offers exceptional possibilities for personalization. Two attached and one detached storage spaces add convenience, while the deep three-car garage with upper cabinets, storage shelves, and tool chests caters to both hobbyists and collectors. An RV gate provides even more versatility. This intimate community features a private tennis and pickleball court along with a covered ramada for year-round enjoyment. With Mesa's top-rated schools nearby, convenient freeway access, and just minutes from downtown Scottsdale and Sky Harbor Airport, it is difficult to find such a convenient yet private location. North Mesa is known for its outdoor recreation and natural beauty, with easy access to golf, hiking, cycling, paddling and water sports, and a quick 1-hour drive to the cool pines of Payson!
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Attch'd Gar Cabinets, Dir Entry frm Garage, Electric Door Opener, RV Gate, Separate Strge Area, Side Vehicle Entry, RV Access/Parking, Gated
- Details: Garage Door Opener, Direct Access, Circular Driveway, Garage Faces Side
- Garage Spaces: 3
- Spaces Total: 6
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 11
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Material: Other, Tile, Rolled/Hot Mop
HOA
- Has HOA: Yes
- Association: Avalon Grove HOA
- HOA Fee: $700/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 14187362
- Lot Size: 30032 sqft
Property Information
- Property Type: Single Family Residence
- Style: Santa Barbara/Tuscan
- Year Built: 1998
Tax Information
- Annual Tax: $5,946
Utilities
- Water & Sewer: Public
- Heating: ENERGY STAR Qualified Equipment, Natural Gas
- Cooling: Central Air, Ceiling Fan(s), ENERGY STAR Qualified Equipment
Location
- County: Maricopa
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,220
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -11.6%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -7.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $1,445,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,156,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $289,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $43,350 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $332,350 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,289 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $337 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $1.47 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,156,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $6,838 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $496 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $441 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $7,775 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $6,300 | $75,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$378 | -$4,536 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,922 | $71,064 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 8% | -$496 | -$5,946 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$441 | -$5,292 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$504 | -$6,048 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$315 | -$3,780 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$315 | -$3,780 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 4% | -$233 | -$2,796 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 37% | -$2,304 | -$27,642 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $3,618 | $43,416 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$6,838 | -$82,056 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,220 | $38,640 |