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1843 N Channing -- Mesa, AZ 85207

3 Beds 3 Baths 1,987 sqft Built 2011

$519,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $261.65
  • 2 Days on Market
  • MLS # : 6187806
  • Updated Date : 01/30/2021 at 15:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,987 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Welcome to this beautiful home in the breathtaking Master Planned community of Mountain Bridge. Nestled on a corner lot in this resort style gated community, this home is generously and neutrally appointed with upgrades. Featuring 3 bedrooms and 3 full baths, large great room with soaring ceilings, beautiful kitchen with granite counters, stainless appliances including a gas range. Bedrooms 2 & 3 have their own baths, while bedroom 3 has a walk in closet. Master bedroom is oversized with a beautiful master bathroom and separate walk in shower and tub. Beautiful shutters dress the windows throughout. Backyard is peaceful and tastefully done with artificial turf, plants, trees, and planters. Meticulously maintained home by original owner. Come live the lifestyle of Mountain Bridge!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k322k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$467,910$571,890$519,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,806
Property Tax -$279
Property Insurance -$66
HOA -$55
Property Management Fees -$99
CASH FLOW
-$214

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.

$519,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,478

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
  • $2,086

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 1843 N Channing -- Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8111 E Encanto Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 8924 E Hannibal Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2000
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.11
    •  
  • 8528 E Kael Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
  • 7360 E Norwood Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
PROPERTY LISTING DETAILS
Michelle Mazzola
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187806
Last Updated: 01/30/2021
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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