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101 N Matlock Street Mesa, AZ 85203

4 Beds 3 Baths 2,024 sqft Built 1976

$304,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $150.20
  • 3 Days on Market
  • MLS # : 6167735
  • Updated Date : 12/04/2020 at 23:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,024 sqft
  • Baths : 3 full
Listing Agent

Call Realty, Inc.

Listing Agent's Description

ENDLESS POSSIBILITIES ON THIS PROPERTY. THE MAIN HOME IS 1416 SQUARE FEET. 3 BEDROOM, 2 BATH. ALL INTERIOR WALLS HAVE BEEN RETEXTURED. THERE ARE NEW DOORS FOR EACH ROOM. THE BATHROOMS ARE USABLE AS IS. THE KITCHEN WILL BE USABLE IF PURCHASED AS IS. THE GUEST HOUSE HAS ONE BEDROOM, ONE BATH, LIVING AREA WITH KITCHEN AND A LAUNDRY ROOM. THE LOCATION IS WITHIN WALKING DISTANCE TO MESA LIGHT RAIL SERVICE. THIS IS AN UP AND COMING MESA NEIGHBORHOOD CLOSE TO CITY CONVENIENCES. PURCHASE THIS HOME AS IT SITS FOR 300K AND ADD ABOUT 10K IN UPGRADES AND YOU HAVE A GEM! THE BACK COTTAGE CAN ALMOST PAY THE MORTGAGE ON THE FRONT HOME. THIS IS A GREAT OPPORTUNITY. THERE IS EVEN A LARGE YARD OUTBACK FOR GROUP GATHERINGS. (after covid)

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fraser

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Fraser

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7451567

* 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
Westwood High School High Regular 3,131 145 4

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

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$273,600$334,400$304,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,122
Property Tax -$156
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
$47

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.

$304,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$86,310

INVESTMENT

$86,310

Down Payment
$76,000
Rehab Estimate
$5,750
Closing Costs
$4,560

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,000
Loan Amount $228,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$27,244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,4993$1,5254$1,6955$1,950
$1,950
RENT COMPS ANALYSIS
  • 101 N Matlock Street Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.74
    •  
  • 1538 E Clover -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.82
    •  
  • 844 E 10th Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1978
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 1903 E Jarvis Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 1526 E Fountain Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Shawn Abrams
Call Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167735
Last Updated: 12/04/2020
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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