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123 N Drexel Street Mesa, AZ 85207

2 Beds 2 Baths 917 sqft Built 2004

$240,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $261.72
  • 3 Days on Market
  • MLS # : 6190649
  • Updated Date : 02/12/2021 at 08:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 917 sqft
  • Baths : 2 full
Listing Agent

Bold Realty Llc

Listing Agent's Description

Fantastic 2 bedroom, 2 bath single family home in a gated community. Vaulted ceilings, fresh paint throughout, family room open to the kitchen and split floor plan. Eat in kitchen features stainless steel appliances, breakfast bar, plenty of cabinets and counter space. Upgraded laminate wood flooring in the bedrooms and tile in all main living areas. Private backyard to enjoy with a nice covered patio, low maintenance landscape and storage shed included. Garage Door with opener turns into carport/patio and includes side gate with concrete parking slab. Community features a clubhouse, pool and HOA maintained front yard landscape. This is a turn key home conveniently located near the 202 freeway, hiking, shopping and dining.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lost Dutchman Villas

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $60k271k

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

Neighborhood: Lost Dutchman Villas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7771567

* 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
Smith Junior High School Middle Regular 988 51 6
Skyline High School High Regular 2,567 121 5

Smith Junior High School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 51
6
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$834
Property Tax -$141
Property Insurance -$45
HOA -$110
Property Management Fees -$99
CASH FLOW
-$129

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.

$240,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 4.2%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,624

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
  • $1,018

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7503$1,0954$1,395
$1,395
RENT COMPS ANALYSIS
  • 123 N Drexel Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 917 Sqft ∙ Built 2004 2 beds 2 baths ∙ 917 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 263 N 93rd Street #1 Mesa, AZ 2
    • 2 beds 1 baths ∙ 714 Sqft ∙ Built 1985 2 beds 1 baths ∙ 714 Sqft ∙ Built 1985
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $1.05
    •  
  • 1017 S 96th Street Mesa, AZ 3
    • 2 beds 2 baths ∙ 961 Sqft ∙ Built 1995 2 beds 2 baths ∙ 961 Sqft ∙ Built 1995
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.14
    •  
  • 230 S Leandro -- Mesa, AZ 4
    • 2 beds 3 baths ∙ 1,222 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,222 Sqft ∙ Built 2008
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jody M Kuhman
Bold Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190649
Last Updated: 02/12/2021
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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