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1540 N Balboa -- Mesa, AZ 85205

3 Beds 3 Baths 1,807 sqft Built 2017

$379,500

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $210.02
  • 4 Days on Market
  • MLS # : 6196038
  • Updated Date : 02/20/2021 at 05:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Why build new when you can buy this almost new home built just 3 years ago! Meticulously maintained with many builder upgrades done during the build including the LOT. 9ft Ceilings throughout, Granite counter tops, matching Stainless steel appliance package, upgraded kitchen cabinets ,Tankless water heater and epoxy garage flooring! This home is turnkey and ready for your buyer to make this their home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Falcon Field

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k290k

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

Neighborhood: Falcon Field

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$341,550$417,450$379,500

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,318
Property Tax -$197
Property Insurance -$62
HOA -$80
Property Management Fees -$99
CASH FLOW
$94

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.

$379,500

PROJECTED PRICE

$1,850

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$106,318

INVESTMENT

$106,318

Down Payment
$94,875
Rehab Estimate
$5,750
Closing Costs
$5,693

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,318

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,875
Loan Amount $284,625
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$31,208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8504$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 1540 N Balboa -- Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
  • 1743 N Seton -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 5064 E Hobart Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2016
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 1532 N Balboa -- Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 1463 N Banning -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2016
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.05
    •  
PROPERTY LISTING DETAILS
Angel Ung
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196038
Last Updated: 02/20/2021
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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