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1043 N Cherry -- Mesa, AZ 85201

4 Beds 2 Baths 2,124 sqft Built 1979

$375,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $176.55
  • 2 Days on Market
  • MLS # : 6206571
  • Updated Date : 03/20/2021 at 17:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,124 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Rare opportunity to purchase in desirable Santo Tomas! Charming 4 bed 2 ba home with open concept floor plan. Great room features sunken living room with cozy beehive fireplace and wood beam ceilings. Tons of bright natural light from 3 sets of sliding glass doors that exit to the courtyard and pool. Spacious bedrooms including master with walk-in closet, dual vanity, step-in shower, and atrium. Modern neutral paint and 5'' baseboards throughout, plus solar panels for low utility bills. Private backyard with expansive covered patio, low maintenance landscaping, and sparkling pool. Great location near spring training, Mesa Riverview, ASU, and easy freeway access. This one won't last!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Santo Tomas Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k311k

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

Neighborhood: Santo Tomas Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181823

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,303
Property Tax -$195
Property Insurance -$69
HOA -$2
Property Management Fees -$99
CASH FLOW
$424

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.

$375,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.56%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$66,837

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
  • $2,262

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8953$1,9454$2,1005$2,295
$2,295
RENT COMPS ANALYSIS
  • 1043 N Cherry -- Mesa, AZ 1
    • 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 45 E 9th Place #101 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1999
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.03
    •  
  • 1543 W 2nd Street Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.06
    •  
  • 1032 N Revere -- Mesa, AZ 4
    • 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
    •  
  • 860 W Mclellan Road Mesa, AZ 5
    • 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1961
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.18
    •  
PROPERTY LISTING DETAILS
Kyle J. N. Bates
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206571
Last Updated: 03/20/2021
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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