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1544 N Rico Circle Mesa, AZ 85213

4 Beds 3 Baths 2,740 sqft Built 2000

$570,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $208.03
  • 33 Days on Market
  • MLS # : 6146127
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,740 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Brokery

Listing Agent's Description

This lovingly maintained home, situated on a 16,000+ cul-de-sac lot in the Northgrove community in Mesa, is ready for immediate move in. With soaring ceilings, engineered wood flooring and clean tile throughout, this home is the perfect blank canvas to add your personal touches. The open concept kitchen features a gas cooktop, center island with breakfast bar, and a view of the beautiful stone fireplace in the family room. The resort style backyard is designed with a spacious covered patio with ceiling fans and a sun shade, a sparkling pool, low maintenance turf, a putting green, and a gas grill with an adobe fireplace.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kensington Grove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $109k590k

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

Neighborhood: Kensington Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10342940

* 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
 

$513,000$627,000$570,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$2,103
Property Tax -$388
Property Insurance -$81
HOA -$35
Property Management Fees -$99
CASH FLOW
-$506

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$570,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,699

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
  • $2,402

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,6004$2,600
$2,600
RENT COMPS ANALYSIS
  • 1544 N Rico Circle Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1333 E Grandview Street Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1986
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 4347 E Fox Circle Mesa, AZ 3
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2000
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
  • 4133 E Elmwood Street Mesa, AZ 4
    • 5 beds 3 baths ∙ 2,567 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,567 Sqft ∙ Built 1995
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Sam Levy
The Brokery
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6146127
Last Updated: 11/13/2020
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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