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1308 N Banning -- Mesa, AZ 85205

3 Beds 3 Baths 2,172 sqft Built 2019

$375,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $172.65
  • 2 Days on Market
  • MLS # : 6160519
  • Updated Date : 11/13/2020 at 21:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,172 sqft
  • Baths : 2 full , 1 half
Listing Agent

Us Premier Real Estate

Listing Agent's Description

Don't miss out on this opportunity to tour this 2019 original KB Home! this home is 2172 Square feet that features 3 bedrooms + a DEN and 2.5 baths with a spacious loft upstairs, upstairs laundry , beautiful kitchen that features granite counter tops, white kitchen cabinets that matches the window coverings throughout the whole house, ceiling fans in all rooms, upstairs split floor plan with extended shower and spacious linen closet in Master Bathroom - upgraded insulation in the attic and walls (R-15 walls and R-38 in attic) perfect for those hot summer days. Tank less gas hot water heater, energy efficient A/C, Gas Stove in kitchen, canned lighting throughout that gives it a wonderful feel. there is much much more to see! You want to check this one out!

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Red Mountain High School High Regular 3,347 145 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

Red Mountain High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,384
Property Tax -$195
Property Insurance -$70
HOA -$80
Property Management Fees -$99
CASH FLOW
$13

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.49%

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) 3.00%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,375

INVESTMENT

$101,375

Down Payment
$93,750
Rehab Estimate
$2,000
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$28,718

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
  • $1,868

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,7754$1,9255$1,975
$1,975
RENT COMPS ANALYSIS
  • 1308 N Banning -- Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,172 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,172 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1234 N Balboa Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2018
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 1514 N Banning -- Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.93
    •  
  • 1530 N Balboa -- Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2017
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.85
    •  
  • 1347 N Balboa Street Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2019
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.88
    •  
PROPERTY LISTING DETAILS
Erica Esquivel
Us Premier Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160519
Last Updated: 11/13/2020
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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