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1841 Leisure World -- Mesa, AZ 85206

3 Beds 2 Baths 1,416 sqft Built 1990

$345,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $243.64
  • 2 Days on Market
  • MLS # : 6212706
  • Updated Date : 03/26/2021 at 17:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 2 full
Listing Agent

Re/max Classic

Listing Agent's Description

Tastefully updated 3 br 2ba split floorplan with neutral decor. Front patio pavers. Open and Spacious with Vaulted Ceilings this very well cared for home is light and bright. The Kitchen has Granite counter-tops, updated appliances, and R/O System. Both Bathrooms updated with walk-in showers. Ceiling Fans throughout. Expansive brick paver backyard is private and great for entertaining! The garage has built-in cabinets, finished flooring. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
Fremont Junior High School Middle Regular 976 48 7
Skyline High School High Regular 2,567 121 5

Fremont Junior High School

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

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,198
Property Tax -$203
Property Insurance -$55
HOA -$296
Property Management Fees -$99
CASH FLOW
-$381

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.

$345,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3504$1,4705$1,650
$1,650
RENT COMPS ANALYSIS
  • 1841 Leisure World -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.04
    •  
  • 125 S 56th Street #3 Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 1999
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 125 S 56th Street #63 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 125 S 56th Street #59 Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 2002
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 5450 E Dolphin Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
PROPERTY LISTING DETAILS
Mary Jane Burns
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212706
Last Updated: 03/26/2021
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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