Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1718 S Longmore Street #108 Mesa, AZ 85202

2 Beds 2 Baths 1,083 sqft Built 1985

$235,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $216.99
  • 4 Days on Market
  • MLS # : 6204506
  • Updated Date : 03/12/2021 at 22:43
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,083 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Serene, Private Setting, North/South exposure . Very private lot surrounded by 2 green belts. Convenient, tree covered walk down greenbelt from back patio to pool. Open floor plan with vaulted ceilings. Granite Counter tops in Kitchen with opening to spacious dining/ great room. Cozy Fireplace in Great room. Sliding door opens to private covered patio. 2 Master Bedrooms with separate doors to Patio's/ Courtyards. Ceramic Tile Floor in main part of home, Cherry Laminate Flooring in Bedrooms. Easy Access to US 60 and the 101. Near Desert Banner Hospital, MCC. ASU, Fiesta Mall. A/C replaced in 2016.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Woodcreek Townhomes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k271k

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

Neighborhood: Woodcreek Townhomes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8671567

* 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
Rhodes Junior High School Middle Regular 985 52 4
Dobson High School High Regular 2,639 122 4

Rhodes Junior High School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 52
4
GreatSchools Rating

Dobson High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$816
Property Tax -$122
Property Insurance -$48
HOA -$276
Property Management Fees -$99
CASH FLOW
-$102

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.

$235,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$4,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,167

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2603$1,2854$1,2855$1,335
$1,335
RENT COMPS ANALYSIS
  • 1718 S Longmore Street #108 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,083 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,083 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.16
    •  
  • 1920 W Lindner Avenue #256 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,018 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,018 Sqft ∙ Built 1980
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.08
    •  
  • 1331 W Baseline Road #359 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,188 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,188 Sqft ∙ Built 1988
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $1.08
    •  
  • 1331 W Baseline Road #347 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,188 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,188 Sqft ∙ Built 1990
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $1.08
    •  
  • 1645 W Baseline Road #2042 Mesa, AZ 5
    • 2 beds 3 baths ∙ 1,250 Sqft ∙ Built 1984 2 beds 3 baths ∙ 1,250 Sqft ∙ Built 1984
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $1.07
    •  
PROPERTY LISTING DETAILS
Sharon L. Hill Elsner
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6204506
Last Updated: 03/12/2021
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.

BESbswy