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1451 Leisure World -- Mesa, AZ 85206

2 Beds 2 Baths 1,449 sqft Built 1983

INVESTimate

$269,900

List Price

$1,280

$1,152 - $1,408

Rent Est.

$286,121  ( +6.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $186.27
  • 6 Days on Market
  • MLS # : 6120990
  • Updated Date : 08/21/2020 at 17:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,449 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Classic

Listing Agent's Description

Very Nice Furnished Valencia located in the center of Leisure World with desert low maintenance landscaping. Nice walk in closet in master. Neutral tile throughout all walk thru areas. Nice fenced in yard, Front and back patio are both tiled.

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PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
Fremont Junior High School High Regular 976 48 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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$996
Property Tax -$159
Property Insurance -$55
HOA -$290
Property Management Fees -$99
CASH FLOW
-$319

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.

$269,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,340

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,025
1$1,0252$1,2803$1,2994$1,4005$1,525
$1,525
RENT COMPS ANALYSIS
  • 1451 Leisure World -- Mesa, 2
    • 2 beds 2 baths ∙ 1,449 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,449 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.88
    •  
  • 125 S 56th Street #12 Mesa, 1
    • 2 beds 3 baths ∙ 1,204 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,204 Sqft ∙ Built 1999
    LEASED 04/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.85
    •  
  • 5056 E Enid Avenue Mesa, 3
    • 2 beds 2 baths ∙ 1,497 Sqft ∙ Built 1976 2 beds 2 baths ∙ 1,497 Sqft ∙ Built 1976
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.87
    •  
  • 306 Leisure World -- Mesa, 4
    • 2 beds 2 baths ∙ 1,408 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,408 Sqft ∙ Built 1974
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 964 Leisure World -- Mesa, 5
    • 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1978
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.99
    •  
PROPERTY LISTING DETAILS
Judy O'malley
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120990
Last Updated: 08/21/2020
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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