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1350 S Greenfield Road #1020 Mesa, AZ 85206

2 Beds 3 Baths 1,161 sqft Built 2007

$259,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $223.86
  • 4 Days on Market
  • MLS # : 6174288
  • Updated Date : 12/23/2020 at 18:21
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,161 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homelogic Real Estate

Listing Agent's Description

GORGEOUS townhome in gated Tesoro at Greenfield! FANTASTIC backyard w/view fencing overlooking greenbelt & pool! UPGRADED open concept home w/bright living & dining areas + kitchen w/maple cabinets, designer tile backsplash, granite counter tops, breakfast bar & walk-in pantry is perfect for entertaining! Downstairs w/tile flooring + high ceilings also includes a large powder room. Direct access to the 1 car garage w/storage space. Head upstairs to 2 bedrooms w/walk-in closets, 2 baths + convenient laundry area w/cabinets. BEAUTIFUL low maintenance backyard OASIS w/extended paver patio, faux grass + VIEWS is perfect for relaxing! Community w/clubhouse, pool, spa, playground, sport court & greenbelts! GREAT location near shopping & restaurants + easy access to 60! WELCOME HOME!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* 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
Mesa High School High Regular 3,406 155 4

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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$959
Property Tax -$177
Property Insurance -$50
HOA -$148
Property Management Fees -$99
CASH FLOW
-$103

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.

$259,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,887

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
  • $1,254

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,2004$1,3005$1,550
$1,550
RENT COMPS ANALYSIS
  • 1350 S Greenfield Road #1020 Mesa, AZ 1
    • 2 beds 3 baths ∙ 1,161 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,161 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1350 S Greenfield Road #2175 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,087 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,087 Sqft ∙ Built 2007
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.10
    •  
  • 3510 E Hampton Avenue #77 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,105 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,105 Sqft ∙ Built 1993
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.09
    •  
  • 1015 S Val Vista Drive #73 Mesa, AZ 4
    • 2 beds 3 baths ∙ 1,245 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,245 Sqft ∙ Built 2003
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 440 S Val Vista Drive #57 Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,426 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,426 Sqft ∙ Built 2000
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
PROPERTY LISTING DETAILS
Timothy J Cusick
Homelogic Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174288
Last Updated: 12/23/2020
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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