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1317 Leisure World -- Mesa, AZ 85206

3 Beds 2 Baths 2,099 sqft Built 1979

$319,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $152.41
  • 4 Days on Market
  • MLS # : 6195770
  • Updated Date : 02/19/2021 at 20:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,099 sqft
  • Baths : 2 full
Listing Agent

Re/max Classic

Listing Agent's Description

This golf course home has so much potential. You will have a clean slate to work with. The front courtyard is a tiled and there is lots of room to entertain, plus it has a pergola covering. The home has 3 bedrooms and 2 baths, a large living room, formal dining, good sized kitchen, family room, wet bar, and a large Arizona Room overlooking the 4th fairway on Heron Lakes Golf Course. Come see this home today, as it will not last. The home is being sold ''as is'' and no repairs will be made. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
Fremont Junior High School Middle Regular 976 48 7
Skyline High School High Regular 2,567 121 5

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Skyline High School

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

$287,910$351,890$319,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,111
Property Tax -$212
Property Insurance -$68
HOA -$456
Property Management Fees -$99
CASH FLOW
-$366

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.

$319,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5803$1,7254$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 1317 Leisure World -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 2,099 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,099 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.75
    •  
  • 5719 E Garnet Circle Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,946 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,946 Sqft ∙ Built 1998
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
  • 5440 E Drummer Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
  • 1741 S Clearview Avenue #74 Mesa, AZ 4
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1993
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 626 S Revolta Circle Mesa, AZ 5
    • 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1962 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1962
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
PROPERTY LISTING DETAILS
Daniel Callahan
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195770
Last Updated: 02/19/2021
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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