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1108 W 2nd Place Mesa, AZ 85201

3 Beds 3 Baths 1,388 sqft Built 1955

$314,500

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $226.59
  • 6 Days on Market
  • MLS # : 6158719
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 2 full , 1 half
Listing Agent

Delex Realty

Listing Agent's Description

Large oversized corner lot (10,585 sq. ft) with possible additional parking/storage at the northeast corner. Neutral color carpeting and Ceiling fans throughout. New A/C and Ducting 03/31/2018. Roof shingles and paper replaced 09/2013, with warranty. Back and front yard regraded for irrigation in 2020. Newer kitchen and bathrooms. Large storage shed in back yard mounted on a foundation. NO HOA. Close to Churches and Shopping. NOTICE! Sellers request a minimum 2 hour notice in advance to view home

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Main

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: West Main

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7801567

* 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
 

$283,050$345,950$314,500

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,160
Property Tax -$163
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$117

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.

$314,500

PROJECTED PRICE

$1,360

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.0%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,093

INVESTMENT

$89,093

Down Payment
$78,625
Rehab Estimate
$5,750
Closing Costs
$4,718

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,160

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,625
Loan Amount $235,875
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$13,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,433

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3603$1,4004$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 1108 W 2nd Place Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,388 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.98
    •  
  • 1756 W Pepper Place Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1960
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.10
    •  
  • 1515 W 6th Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1959
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
  • 725 W University Drive Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1951
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 1357 W 1st Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
PROPERTY LISTING DETAILS
Hans W Burkardt
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158719
Last Updated: 11/13/2020
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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