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1513 E Grandview Street Mesa, AZ 85203

3 Beds 2 Baths 2,249 sqft Built 1978

$399,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $177.81
  • 3 Days on Market
  • MLS # : 6181493
  • Updated Date : 01/16/2021 at 17:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,249 sqft
  • Baths : 2 full
Listing Agent

Superb Realty

Listing Agent's Description

Incredible opportunity to own a block home in a very desired area of Mesa. This home has so much to offer; brand new roof (2021), diving pool, huge RV gated slab area, formal living and dining rooms, family room, split floor plan, real wood floors. Plenty of natural light, mature landscaping and a raised garden area to grow you own veggies! Lot size is over 1/4 acre with no 2 story homes surrounding the home. Original owner home has been well maintained. Awarding winning schools, shopping close by, freeway access to 202 and 60 close by.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,389
Property Tax -$209
Property Insurance -$71
Property Management Fees -$99
CASH FLOW
$352

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.

$399,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$61,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,968

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,9503$2,0004$2,1205$2,250
$2,250
RENT COMPS ANALYSIS
  • 1513 E Grandview Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.94
    •  
  • 1836 N Stapley Drive #47 Mesa, AZ 1
    • 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1995
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 1526 E Fountain Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 1758 N Nevada Way Mesa, AZ 3
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1986
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1230 E Gary Circle Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1991
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
PROPERTY LISTING DETAILS
Brenda Kohles
Superb Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181493
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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