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1766 W University Drive Mesa, AZ 85201

3 Beds 2 Baths 1,399 sqft Built 1957

$267,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $190.85
  • 6 Days on Market
  • MLS # : 6161297
  • Updated Date : 11/16/2020 at 20:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,399 sqft
  • Baths : 2 full
Listing Agent

Emg Real Estate

Listing Agent's Description

Location. Location, Location...HIGHLY MOTIVATED SELLER. Calling all investors and non-investors. Turn Key property in prime mesa location. Keep the TENANTS OR NOT its up to you. Very clean well maintained property. Tenant currently pays $1300 and would like to stay. 3 bed 2 bath home huge backyard with RV Gate. Recently remodeled kitchen. MAKE AN OFFER, IT MIGHT JUST GET ACCEPTED.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mesa Vista

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Mesa Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7861567

* 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
Westwood High School High Regular 3,131 145 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

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$985
Property Tax -$139
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
$63

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.

$267,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.0%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$26,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,4953$1,4954$1,5005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1766 W University Drive Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.96
    •  
  • 1357 W 1st Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 737 N Santa Anna Circle Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1974
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.12
    •  
  • 332 N Dobson Road #4 Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1974
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 2042 W Decatur Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1974
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Daniel Alberto Renteria
Emg Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161297
Last Updated: 11/16/2020
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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