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1223 N Matlock -- Mesa, AZ 85203

3 Beds 2 Baths 1,434 sqft Built 1980

$364,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $254.46
  • 3 Days on Market
  • MLS # : 6190268
  • Updated Date : 02/05/2021 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

New to the market, a charming 3-bedroom home located in Hohokam Village with NO HOA! Situated on a large lot with mature trees (including citrus in the back yard), this home has appealing features such as white cabinets with butcher block countertops (plus an island) and modern stainless steel appliances in the kitchen, a fabulous stacked stone fireplace in an open concept living room, laminate flooring in the family room with carpet and very nice ceiling fans in each bedroom plus wood blinds throughout. French Doors lead to the rear patio and spacious back yard!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Park of the Canals

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k271k

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

Neighborhood: Park of the Canals

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9581567

* 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
Kino Junior High School Middle Regular 1,020 49 3
Westwood High School High Regular 3,131 145 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,267
Property Tax -$189
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$271

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.

$364,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.2%
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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,267

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,319

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3953$1,399
$1,399
RENT COMPS ANALYSIS
  • 1223 N Matlock -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.93
    •  
  • 1240 N Freestone Circle Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 127 E Indigo Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jim Mitchell
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190268
Last Updated: 02/05/2021
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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