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11360 E Keats Avenue #15 Mesa, AZ 85209

2 Beds 2 Baths 1,502 sqft Built 2004

$299,500

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $199.40
  • 2 Days on Market
  • MLS # : 6171917
  • Updated Date : 01/02/2021 at 16:47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent

Prosmart Realty

Listing Agent's Description

Nice 2 bedroom 2 bath garden condo, split bedroom floor plan. New 20'' tile throughout, plantation shutters, all new Stainless steel kitchen appliances. Recently painted. Mechanical shutters over windows and porch for security. This is an amazing active adult community with lots of amenities.

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PRICE & RENT TRENDS

Neighborhood: Sunland Springs Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k340k

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

Neighborhood: Sunland Springs Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181746

* 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
Augusta Ranch Elementary School Primary Regular 1,038 51 8
Augusta Ranch Elementary School Middle Regular 1,038 51 8
Desert Ridge High School High Regular 2,752 119 6

Augusta Ranch Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 51
8
GreatSchools Rating

Augusta Ranch Elementary School

  • Education Level: Middle
  • # of students: 1,038
  • # of teachers: 51
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,105
Property Tax -$181
Property Insurance -$56
HOA -$25
Property Management Fees -$99
CASH FLOW
$33

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.

$299,500

PROJECTED PRICE

$1,500

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 3.6%
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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,560

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 11360 E Keats Avenue #15 Mesa, AZ
    • 2 beds 2 baths ∙ 1,502 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,502 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Jesse Wintersteen
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171917
Last Updated: 01/02/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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