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1261 N Balboa -- Mesa, AZ 85205

3 Beds 2 Baths 1,702 sqft Built 2018

$380,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $223.27
  • 4 Days on Market
  • MLS # : 6189541
  • Updated Date : 02/04/2021 at 03:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent

Cluff Real Estate Llc

Listing Agent's Description

Almost new home on corner lot in the desirable community of Copper Crest in north Mesa with easy access to the 202 & 60. Open floor plan featuring a kitchen w/ a large island that is perfect for entertaining. Upgrades galore including granite countertops, Whirlpool appliances, cabinets, light fixtures, double vanities in the bathrooms & laundry room storage to name a few! Tile throughout with plush carpet in the bedrooms. Enjoy your morning coffee in your private yard with an extended patio. Short walking distance to the community pool & children play area w/ plenty of walking paths to utilize. HOA maintains front yard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Falcon Field

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Falcon Field

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,320
Property Tax -$197
Property Insurance -$60
HOA -$80
Property Management Fees -$99
CASH FLOW
$54

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.

$380,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$27,545

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
  • $1,808

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7003$1,7504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 1261 N Balboa -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1512 N Balboa -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2017
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 1743 N Seton -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 5064 E Hobart Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 1460 N Banning -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2016
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
PROPERTY LISTING DETAILS
Chad Cluff
Cluff Real Estate Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189541
Last Updated: 02/04/2021
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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