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1647 W Plana Avenue Mesa, AZ 85202

3 Beds 2 Baths 1,769 sqft Built 1979

$350,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $197.85
  • 3 Days on Market
  • MLS # : 6157349
  • Updated Date : 11/06/2020 at 15:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,769 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

PRIDE OF OWNERSHIP! NO HOA! Move in ready home! Flexible living space at the entrance, kitchen with granite counters, formal dining space that is open to the kitchen and additional living space. Primary bedroom suite separate from secondary bedrooms. Backyard has a fenced pool with waterfall, entertaining area and storage shed. Many upgrades including newer A/C w/warranty, tile flooring and patio door (2018); all windows, front door, NEW ROOF w/added insulation, hall vanity, shower doors both bathrooms, new toilets (2019). MUST SEE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Palo Verde Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $102k271k

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

Neighborhood: Palo Verde Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8401567

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,291
Property Tax -$182
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$74

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.

$350,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.6%
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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$19,815

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,725

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,5453$1,5604$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 1647 W Plana Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.88
    •  
  • 1556 W Peralta Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1980
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.91
    •  
  • 1451 W Plana Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1979
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.89
    •  
  • 1329 W Cortez Court Chandler, AZ 4
    • 4 beds 3 baths ∙ 1,582 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,582 Sqft ∙ Built 1986
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 1355 W Nido Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1979
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.03
    •  
PROPERTY LISTING DETAILS
Julie A Gallego
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157349
Last Updated: 11/06/2020
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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