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1030 W Fairway Drive Mesa, AZ 85201

4 Beds 2 Baths 2,250 sqft Built 1970

$350,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $155.56
  • 2 Days on Market
  • MLS # : 6190962
  • Updated Date : 02/06/2021 at 21:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,250 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

This single level 4 bedroom home located in the sought out neighborhood of Hillcrest Terrace with no HOA has so many possibilities. Large lap pool with electric cover invites many backyard parties. Plenty of storage in the garage and work area. Welcome home..

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hillcrest Terrace-Fairway

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k344k

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

Neighborhood: Hillcrest Terrace-Fairway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10182047

* 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
Carson Junior High School Middle Regular 992 55 3
Westwood High School High Regular 3,131 145 4

Carson Junior High School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 55
3
GreatSchools Rating

Westwood High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,216
Property Tax -$202
Property Insurance -$71
Property Management Fees -$99
CASH FLOW
$312

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.

$350,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.6%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$53,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,042

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$1,6754$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 1030 W Fairway Drive Mesa, AZ 1
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1500 N Markdale Street #12 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1974
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 634 N Cliff Circle Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1965
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
  • 1744 W 6th Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1959 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1959
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 1032 N Revere -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 1978
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
PROPERTY LISTING DETAILS
Janet Stefanovich
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190962
Last Updated: 02/06/2021
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.

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