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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $231.85
- 2 Days on Market
- MLS # : 6196823
- Updated Date : 02/19/2021 at 22:57
CONSTRUCTION
- Beds : 4
- Floor Size : 1,488 sqft
- Baths : 2 full
Listing Agent
Offerpad
Listing Agent's Description
Don't miss this single level home in Paradise Parkway! This home has been refreshed with new interior paint. No carpet! The kitchen features Quartz countertops and stainless steel appliances. The primary bedroom has an ensuite bathroom and a walk in closet. Spacious backyard with a covered patio. GREAT location near LOTS of Shopping & Dining. Also near, neighborhood parks, TONS of golf, LOTS of hiking and biking trails, and easy freeway access. Vacant and ready for viewing, come see!
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PRICE & RENT TRENDS
Neighborhood: Gilbert - Main Street
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Gilbert - Main Street
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,250 |
| EXPENSES | Loan Payment | -$1,198 |
| Property Tax | -$179 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$283
|
||
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.
$345,000
PROJECTED PRICE
$1,250
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.32% |
| Appreciation Year (1-5) | 9.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$97,175
LOAN DETAILS
$1,198
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $86,250 |
| Loan Amount | $258,750 |
1.58
YEARS SAVED
$3,325
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,250
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,242
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
1640 E 1st Place Mesa, AZ 1
- 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1955
![property image]()
- Rent
- Rent Per SQFT
- $1,250
- $0.84
-
2441 E Alpine Avenue Mesa, AZ 2
- 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969
![property image]()
LEASED 12/07/19- Rent
- Rent Per SQFT
- $1,499
- $0.85
-
1538 E Clover -- Mesa, AZ 3
- 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963
![property image]()
LEASED 12/07/19- Rent
- Rent Per SQFT
- $1,499
- $0.82
PROPERTY LISTING DETAILS
Offerpad
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6196823
Last Updated: 02/19/2021
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.
