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138 S Lebaron -- Mesa, AZ 85210

3 Beds 2 Baths 1,540 sqft Built 1935

$295,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1935
  • Price/Sqft : $191.56
  • 2 Days on Market
  • MLS # : 6173115
  • Updated Date : 12/19/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Circa 1935 historic home within walking distance of downtown Mesa Arts & Cultural District, shopping, restaurants, bars & light rail. This classic home offers 3 beds, 2 baths, sizable dining area, living area. The kitchen was recently remodeled in 7/2020. Most of home has the original wood floors exposed!! Recent updates incl new shingles 4/19, ext. paint 4/19, updated 200 amp elect. panel, laminate flooring in the kitchen! This property offers a large gate to the rear yard for RV storage and includes Lemon and Pomegranate trees and sugar cane! Also included is a large workshop in the backyard. This lot is still flood irrigated by the City of Mesa!! Don't miss out on this wonderful historic home that's close dining, entertainment, freeways and light rail access to Tempe & Phx!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Downtown Mesa

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $77k271k

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

Neighborhood: Downtown Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6401567

* 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
Dobson High School High Regular 2,639 122 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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,088
Property Tax -$133
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$182

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$295,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$42,281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,471

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,4954$1,5605$1,775
$1,775
RENT COMPS ANALYSIS
  • 138 S Lebaron -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1935
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.01
    •  
  • 725 W University Drive Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1951
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 1357 W 1st Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 9 N Fraser Drive Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1945
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 221 S Olive -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.97
    •  
PROPERTY LISTING DETAILS
Durand Berg
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173115
Last Updated: 12/19/2020
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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