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158 N 56th Place Mesa, AZ 85205

4 Beds 3 Baths 2,415 sqft Built 2019

$400,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $165.63
  • 7 Days on Market
  • MLS # : 6173473
  • Updated Date : 12/21/2020 at 10:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,415 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

The BEST floor plan of the bunch! 4 Beds and 3 full Baths, including Bed & full Bath downstairs! Beautiful, bright Kitchen with large Island that easily accommodates seating for 4, Granite counters, Stainless Steel Appliances, Gas Range, tons of Cabinets, plus a Pantry. Working from home? No problem! Keep your 4 Bedrooms for sleeping and utilize your 2nd floor Open areas to set up an Office and even a Home gym! Laundry, 2 Bedrooms, plus Bath and large Owner's Retreat also upstairs! Enjoy your Master En suite Bath with separate Shower and Soaking tub, extended-height Double vanity w/Make-up counter and Walk-in closet with Built-in organization. At day's end, relax on your Private Patio with Pavers and ever green, no maintenance Synthetic grass! Welcome Home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

* 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
Red Mountain High School High Regular 3,347 145 7

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

Red Mountain High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,476
Property Tax -$250
Property Insurance -$74
HOA -$93
Property Management Fees -$99
CASH FLOW
$8

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$400,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.50%

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) 3.00%
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$108,000

INVESTMENT

$108,000

Down Payment
$100,000
Rehab Estimate
$2,000
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$29,219

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
  • $2,095

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,7504$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 158 N 56th Place Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1234 N Balboa Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2018
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 5360 E Carol Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 6846 E Butte Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2020
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 6850 E Butte Street Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2020
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
PROPERTY LISTING DETAILS
Tracy Duncan
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173473
Last Updated: 12/21/2020
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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