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1142 S 81st Place Mesa, AZ 85208

2 Beds 2 Baths 1,294 sqft Built 1979

$305,000

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $235.70
  • 4 Days on Market
  • MLS # : 6183808
  • Updated Date : 01/21/2021 at 18:44
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,294 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

This is a home you don't want to miss! Bring your toothbrush and golf clubs. It's the Hopi split bedroom floor plan that is fully furnished and ready for move-in. The home offers an upgraded kitchen, Quartz countertops, new appliance, New roof, and New carpet in both bedrooms. Double closets in Master bedroom. Separate laundry room. Tile flooring in the main living areas, two car garage, Large covered patio in back, beautiful new pavers, low maintenance yard, large lot for entertaining, and a beautiful patio in front to enjoy the morning sunshine.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $96k271k

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

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9811567

* 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
 

$274,500$335,500$305,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$1,059
Property Tax -$158
Property Insurance -$52
HOA -$7
Property Management Fees -$99
CASH FLOW
-$336

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.

$305,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,048

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9503$1,0404$1,100
$1,100
RENT COMPS ANALYSIS
  • 1142 S 81st Place Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $0.80
    •  
  • 8103 E Southern Avenue #319 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 8103 E Southern Avenue #311 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 1043 S Florence Drive Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Mary Newton
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183808
Last Updated: 01/21/2021
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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