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1353 N Balboa -- Mesa, AZ 85205

3 Beds 2 Baths 1,584 sqft Built 2019

$370,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $233.59
  • 4 Days on Market
  • MLS # : 6204551
  • Updated Date : 03/11/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,584 sqft
  • Baths : 2 full
Listing Agent

Hague Partners

Listing Agent's Description

72 Hour Home Sale! This gorgeous home features a spacious open concept layout. Elegant upgraded features such as plantation shutters throughout, large kitchen island with granite countertops, wood-tile look flooring throughout, gourmet kitchen design with gas cooktop and double ovens. Great space for entertaining family and guests. Ideal property for someone who would love to enjoy low maintenance or ''lock & leave'' lifestyle.

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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

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

$333,000$407,000$370,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,285
Property Tax -$192
Property Insurance -$58
HOA -$80
Property Management Fees -$99
CASH FLOW
$6

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.

$370,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.46%

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) 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$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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7203$1,7954$1,8005$1,995
$1,995
RENT COMPS ANALYSIS
  • 1353 N Balboa -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.09
    •  
  • 1512 N Balboa -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2017
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 5064 E Hobart Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 1460 N Banning -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2016
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
  • 1463 N Banning -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2016
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.05
    •  
PROPERTY LISTING DETAILS
Deandre K. Harvey
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6204551
Last Updated: 03/11/2021
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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