Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1432 W Emerald Avenue #37 Mesa, AZ 85202

2 Beds 2 Baths 1,022 sqft Built 1981

$195,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $190.80
  • 3 Days on Market
  • MLS # : 6184266
  • Updated Date : 01/23/2021 at 18:24
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,022 sqft
  • Baths : 2 full
Listing Agent

Balboa Realty, Llc

Listing Agent's Description

WELCOME TO 1432 W EMERALD AVE UNIT 37 MESA ARIZONA 85202 ENTER INTO THE LIVING ROOM WITH EXPANSIVE SOARING CEILINGS AND BE DRAWN TO THE UPDATED KITCHEN WITH NEWER WHITE CABINETS, MODERN COUNTER TOPS AND STAINLES STEEL APPLIANCES. THE TOWNHOUSE OFFERS YOU 2 BEDROOMS, + DEN, 2 BATHROOMS. TILE FLOORING THROUGHOUT THE MAIN LIVING AREAS AND BATHROOMS. ENJOY THE UPDATED PRIMARY BATHROOM AND GUEST BATHROOM. SPACE FOR A HOME OFFICE, HOME SCHOOL ON THE 2ND FLOOR IN THE LOFT AREA. SITUATED IN THE WELL MAINTAINED COMMUNITY OF MESA CORONADO. NEAR FREEWAYS 60 & 101. LOCATED CLOSE TO MCC, ASU, CUBS SPRING TRAINING PARK, THE A'S SPRING TRAINING, SHOPPING, LIGHT RAIL AND DINING. A 10 MINUTE DRIVE TO THE DOWNTOWN MESA ENTERTAINMENT DISTRICT.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Adams Elementary School Primary Regular 778 40 3
Adams Elementary School Middle Regular 778 40 3
Westwood High School High Regular 3,131 145 4

Adams Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 40
3
GreatSchools Rating

Adams Elementary School

  • Education Level: Middle
  • # of students: 778
  • # of teachers: 40
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$677
Property Tax -$101
Property Insurance -$47
HOA -$175
Property Management Fees -$99
CASH FLOW
$150

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.

$195,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$23,155

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
  • $1,239

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,0953$1,2004$1,2255$1,250
$1,250
RENT COMPS ANALYSIS
  • 1432 W Emerald Avenue #37 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1406 W Emerald Avenue #115 Mesa, AZ 2
    • 2 beds 2 baths ∙ 908 Sqft ∙ Built 2000 2 beds 2 baths ∙ 908 Sqft ∙ Built 2000
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.21
    •  
  • 1342 W Emerald Avenue #278 Mesa, AZ 3
    • 2 beds 2 baths ∙ 996 Sqft ∙ Built 1984 2 beds 2 baths ∙ 996 Sqft ∙ Built 1984
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.20
    •  
  • 925 S Longmore Street #113 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1988
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.23
    •  
  • 1432 W Emerald Avenue #665 Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,022 Sqft ∙ Built 1983
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.22
    •  
PROPERTY LISTING DETAILS
Victor Noriega De La Riva
Balboa Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184266
Last Updated: 01/23/2021
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.

BESbswy