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1535 N Horne -- #101 Mesa, AZ 85203

3 Beds 2 Baths 1,421 sqft Built 1987

$285,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $200.56
  • 3 Days on Market
  • MLS # : 6190032
  • Updated Date : 02/05/2021 at 01:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,421 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome to Home to your 3 bedroom 2 bath tri-level with Open Den! Inviting Main Floor with Great Room, Cozy Fireplace, Kitchen Island with Breakfast Bar, Pantry and inside Laundry and Dining Area. Large Master Bedroom/Bath Downstairs. Warm tones and Saltillo Tile throughout, mid level with Den directs you to stairs to the Guest Bedrooms/Bath. Front patio also has access to Backyard which is a blank canvas and has gated area for pets, 10 ft RV Gate, 2 Car Garage and ample parking for additional toys and perfect for entertaining! Community has Pool/Spa, Club House, Parks All and Near Shopping and the 202 FWY.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Park of the Canals

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k271k

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

Neighborhood: Park of the Canals

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9581567

* 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
Kino Junior High School Middle Regular 1,020 49 3
Westwood High School High Regular 3,131 145 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Westwood High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$990
Property Tax -$148
Property Insurance -$55
HOA -$83
Property Management Fees -$99
CASH FLOW
-$15

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.

$285,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.2%
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-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,558

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,307

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,3953$1,399
$1,399
RENT COMPS ANALYSIS
  • 1535 N Horne -- #101 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.96
    •  
  • 1240 N Freestone Circle Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 127 E Indigo Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.94
    •  
PROPERTY LISTING DETAILS
Kelly Rojas
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190032
Last Updated: 02/05/2021
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.

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