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130 N Ramada -- Mesa, AZ 85205

2 Beds 2 Baths 1,276 sqft Built 2004

INVESTimate

$242,500

List Price

$1,190

$1,071 - $1,309

Rent Est.

$258,238  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $190.05
  • 6 Days on Market
  • MLS # : 6119461
  • Updated Date : 08/22/2020 at 10:54
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,276 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Under $250k in gated community. Large Kitchen with breakfast nook. Great Room. Bathrooms have been modified to allow for wheelchair access. Small gated yard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
 

$218,250$266,750$242,500

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$895
Property Tax -$152
Property Insurance -$52
HOA -$75
Property Management Fees -$99
CASH FLOW
-$82

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.

$242,500

PROJECTED PRICE

$1,190

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$70,013

INVESTMENT

$70,013

Down Payment
$60,625
Rehab Estimate
$5,750
Closing Costs
$3,638

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$895

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,625
Loan Amount $181,875
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$10,053

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,330

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,3003$1,3004$1,3505$1,599
$1,599
RENT COMPS ANALYSIS
  • 130 N Ramada -- Mesa, 1
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.93
    •  
  • 714 N 66th Place Mesa, 2
    • 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1997
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.02
    •  
  • 125 S 56th Street #63 Mesa, 3
    • 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 125 S 56th Street #59 Mesa, 4
    • 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 312 N Sandal Place Mesa, 5
    • 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2017
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.03
    •  
PROPERTY LISTING DETAILS
Michael A Curlee
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119461
Last Updated: 08/22/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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