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1560 W Posada Avenue Mesa, AZ 85202

4 Beds 2 Baths 1,807 sqft Built 1978

INVESTimate

$349,900

List Price

$1,660

$1,494 - $1,826

Rent Est.

$378,417  ( +8.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $193.64
  • 2 Days on Market
  • MLS # : 6119904
  • Updated Date : 08/25/2020 at 22:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,807 sqft
  • Baths : 2 full
Listing Agent

Wise Realty Az

Listing Agent's Description

Move in ready, well-maintained home on a corner lot in a quiet no HOA neighborhood. A true 4 bedroom, 2 bathroom home. Brand NEW ROOF (2020). Granite tile counter tops and backsplash in kitchen. Extra tall custom made hickory cabinets throughout. 18'' tile throughout - NEW CARPET in bedrooms (2019). Duct work redone with added insulation in the attic and a HUGE A/C and heater for icy cold summers and toasty winters. Smart thermostat makes energy management a breeze. Large great room with fireplace; opens to dining room and den. Front yard offers HUGE SHADE TREES and low maintenance. Large entertainer's dream backyard with great shade, large covered patio, synthetic grass, pavers, an RV gate and additional covered parking for your toys.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Dobson High School High Regular 2,639 122 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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,291
Property Tax -$182
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
$26

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.

$349,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.15%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$28,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,766

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6603$1,6954$1,7105$1,775
$1,775
RENT COMPS ANALYSIS
  • 1560 W Posada Avenue Mesa, 2
    • 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.92
    •  
  • 1451 W Plana Avenue Mesa, 1
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1979
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.89
    •  
  • 1345 W Laguna Azul Avenue Mesa, 3
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1978
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
  • 3122 S Rogers Street Mesa, 4
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1979
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.96
    •  
  • 1355 W Nido Avenue Mesa, 5
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1979
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.03
    •  
PROPERTY LISTING DETAILS
Keri Means
Wise Realty Az
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119904
Last Updated: 08/25/2020
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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