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165 N 61st Way N Mesa, AZ 85205

2 Beds 2 Baths 1,195 sqft Built 1973

$244,900

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $204.94
  • 2 Days on Market
  • MLS # : 6184916
  • Updated Date : 01/23/2021 at 17:14
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,195 sqft
  • Baths : 2 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

2 bedroom, 2 bathroom home located in desirable Dreamland Villa 55+ Active Adult Retirement Community. This home was completely remodeled in 2017, including a brand new kitchen, porcelain wood plank tile flooring through out, custom doors, 3 inch molding. The master suite features dual, spacious closets*Ceiling fans*Blinds on all windows*Large enclosed Arizona room* Separate large Laundry/Workshop room with sink. Brand new 14 seer A/C Heat pump installed summer of 2020. Couch and loveseat stays and also washer and dryer and inside refrigerator. Easy care maintenance yard with beautiful rose garden and citrus trees & RV gate.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
Fremont Junior High School High Regular 976 48 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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$851
Property Tax -$144
Property Insurance -$51
HOA -$47
Property Management Fees -$99
CASH FLOW
-$21

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.

$244,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,314

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
  • $1,228

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1753$1,2004$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 165 N 61st Way N Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,195 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,195 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5409 E Butte Street Mesa, AZ 2
    • 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.03
    •  
  • 319 N 61st Way Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
  • 5478 E Albany Street Mesa, AZ 4
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 6257 E Dodge Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
PROPERTY LISTING DETAILS
Denise Townsend
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184916
Last Updated: 01/23/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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