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1093 Leisure World -- Mesa, AZ 85206

3 Beds 2 Baths 1,833 sqft Built 1979

$339,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $184.94
  • 2 Days on Market
  • MLS # : 6184155
  • Updated Date : 01/23/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,833 sqft
  • Baths : 2 full
Listing Agent

Devstar Realty

Listing Agent's Description

This home has just been completely updated with thousands $$$$ invested. New paint - interior/exterior, tile, carpet, kitchen renovation, new dishwasher and microwave, remodeled bathrooms, fixtures, lighting, fans, baseboards, etc. This home is beautiful and 100% move in ready. Enjoy the large enclosed backyard a completely enclosed Arizona room AND a 2 car garage. Low HOA fee for this community that has so much to offer. This is a must see!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
Fremont Junior High School High Regular 976 48 7

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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,177
Property Tax -$200
Property Insurance -$63
HOA -$290
Property Management Fees -$99
CASH FLOW
-$189

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.

$339,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,347

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
  • $1,787

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,5504$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 1093 Leisure World -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1893 Leisure World -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 5738 E Garnet Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 5440 E Drummer Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
  • 6942 E Exmoor Drive Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Deanna Smith
Devstar Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184155
Last Updated: 01/23/2021
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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