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1833 S Cholla -- Mesa, AZ 85202

2 Beds 2 Baths 1,198 sqft Built 1979

$289,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $241.99
  • 5 Days on Market
  • MLS # : 6154193
  • Updated Date : 10/30/2020 at 16:10
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,198 sqft
  • Baths : 2 full
Listing Agent

Infinity & Associates Real Estate

Listing Agent's Description

Excellent location within the coveted Dobson Ranch Community. This single level beauty boasts a 2 car garage, private front courtyard, Covered rear patio and grassy backyard with a huge shade tree. A great room concept with two large bedrooms gives the feeling the home is much larger than the square footage. Recently replaced roof and water heater. Updated wood flooring in the great room, painted cabinets in the kitchen with a light and bright breakfast nook that looks out to the private front courtyard. No neighbors behind and walking distance to schools and shopping. Located just minutes from the 60 freeway. Dobson Ranch is a master planned community that comes complete with Golf, Tennis, pickleball, community pools, children's playgrounds, clubhouse, lakes, and paths throughout.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k282k

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

Neighborhood: Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9551573

* 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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$1,070
Property Tax -$150
Property Insurance -$51
HOA -$15
Property Management Fees -$99
CASH FLOW
-$145

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.

$289,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.1%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,243

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2403$1,2954$1,3005$1,335
$1,335
RENT COMPS ANALYSIS
  • 1833 S Cholla -- Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,198 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,198 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.04
    •  
  • 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
    •  
  • 1718 S Longmore -- #79 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,310 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,310 Sqft ∙ Built 1987
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.99
    •  
  • 2256 W Lindner Avenue #22 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,287 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,287 Sqft ∙ Built 1979
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
  • 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
William Ryan
Infinity & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154193
Last Updated: 10/30/2020
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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