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1345 N Rosemont -- Mesa, AZ 85205

3 Beds 2 Baths 1,496 sqft Built 1986

$339,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $226.60
  • 3 Days on Market
  • MLS # : 6162747
  • Updated Date : 11/19/2020 at 19:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,496 sqft
  • Baths : 2 full
Listing Agent

Pathway Arizona, Llc

Listing Agent's Description

Back on the market. Seller will only accept offers from pre-approved buyers. Property has both convention and FHA appraisals for list price. Home has a number of recent renovations and is ready to move-in. Agent is a related party to the Seller.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mira Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k276k

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

Neighborhood: Mira Mesa

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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,251
Property Tax -$176
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$142

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.

$339,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5503$1,6504$1,6755$1,750
$1,750
RENT COMPS ANALYSIS
  • 1345 N Rosemont -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.96
    •  
  • 4725 E Brown Road #81 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1987
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 4923 E Hobart Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1986
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 5041 E Dallas Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1986
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
  • 4803 E Princess Drive Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1985
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
PROPERTY LISTING DETAILS
Kent E Kleiner
Pathway Arizona, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162747
Last Updated: 11/19/2020
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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