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1500 W Rio Salado Parkway #144 Mesa, AZ 85201

2 Beds 2 Baths 1,100 sqft Built 1974

$195,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $177.27
  • 2 Days on Market
  • MLS # : 6165523
  • Updated Date : 11/28/2020 at 02:41
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,100 sqft
  • Baths : 1 full , 1 half
Listing Agent

Hometown Usa, Llc

Listing Agent's Description

Don't miss this one! Great Location!! Tastefully Remodeled!! Features include: Tile throughout! Custom kitchen cabinets with pull outs and Soft close drawers. Gorgeous built in wall unit for wine and extra storage.Dual pane windows, Updated bathrooms, French Patio Doors, Pavers on painted and inviting Patio, 2'' wood blinds, custom paint, newer ceiling fans throughout and much more for under $200K. This is a very upgraded unit. You'll love it!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Country Club Heights Condominiums

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $59k271k

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

Neighborhood: Country Club Heights Condominiums

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8091567

* 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
Westwood High School High Regular 3,131 145 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

Westwood High School

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

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

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$719
Property Tax -$101
Property Insurance -$49
HOA -$165
Property Management Fees -$99
CASH FLOW
$247

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.

$195,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.6%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$39,859

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
  • $1,378

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3754$1,4005$1,550
$1,550
RENT COMPS ANALYSIS
  • 1500 W Rio Salado Parkway #144 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 540 N May -- #3097 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1980
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.21
    •  
  • 1500 W Rio Salado Parkway #96 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1974
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.25
    •  
  • 1500 W Rio Salado Parkway #74 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1974
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.27
    •  
  • 1500 W Rio Salado Parkway #39 Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,209 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,209 Sqft ∙ Built 1974
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.28
    •  
PROPERTY LISTING DETAILS
Debra Thomas
Hometown Usa, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165523
Last Updated: 11/28/2020
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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