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1202 S Merino -- 
Mesa, AZ
85206
3 Beds 2 Baths 1,423 sqft
Built 1987
INVESTimate
$295,000
List Price
$83,925
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PROPERTY INFO
FACTS
- Built In 1987
- Price/Sqft : $207.31
- 3 Days on Market
- MLS # : 6121860
- Updated Date : 08/25/2020 at 16:38
CONSTRUCTION
- Beds : 3
- Floor Size : 1,423 sqft
- Baths : 2 full
Listing Agent
Call Realty, Inc.
Listing Agent's Description
Welcome to this very charming 3 bedroom 2 bathroom Ranch style Mesa home with tons of curb appeal. Step into the light and bright interior featuring separate living and family rooms, custom paint tones and low maintenance tile flooring in all of the right places. Large eat in kitchen is open to the family and boasts a breakfast bar and coordinating black appliances. Two good sized secondary bedrooms with plush carpeting and ceilings fans. Nice master retreat is complete with a private en suite. 2 car garage. Huge corner lot offers plenty of space for pets or play and is ready for all your ideas. Great location, close to schools, shopping, restaurants, freeways and so much more. Do not wait on this one. Schedule your showing today!
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PRICE & RENT TRENDS
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,350 |
| EXPENSES | Loan Payment | -$1,088 |
| Property Tax | -$153 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$45
|
||
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.
$295,000
PROJECTED PRICE
$1,350
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.35% |
| Appreciation Year (1-5) | 6.49% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.24% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$83,925
LOAN DETAILS
$1,088
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $73,750 |
| Loan Amount | $221,250 |
5.17
YEARS SAVED
$18,290
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,350
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$1,427
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
1202 S Merino -- Mesa, 2
- 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1987
- Rent
- Rent Per SQFT
- $1,350
- $0.95
-
3502 E El Moro Avenue Mesa, 1
- 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1980
LEASED 09/01/19- Rent
- Rent Per SQFT
- $1,300
- $1.04
-
3510 E Hampton Avenue #59 Mesa, 3
- 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1993
LEASED 11/01/19- Rent
- Rent Per SQFT
- $1,395
- $0.99
-
3535 E Edgewood Avenue Mesa, 4
- 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979
LEASED 04/21/20- Rent
- Rent Per SQFT
- $1,400
- $0.95
-
3719 E Inverness Avenue #10 Mesa, 5
- 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1998
LEASED 07/15/20- Rent
- Rent Per SQFT
- $1,600
- $1.03
PROPERTY LISTING DETAILS
Call Realty, Inc.
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6121860
Last Updated: 08/25/2020
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.
