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1852 Leisure World -- Mesa, AZ 85206

3 Beds 2 Baths 1,432 sqft Built 1987

$265,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $185.68
  • 2 Days on Market
  • MLS # : 6165608
  • Updated Date : 11/29/2020 at 00:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,432 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Classic

Listing Agent's Description

Move-in Ready, this 3 bedroom/2 Bathroom/2-Car Garage home is a highly sought after Split Floor Plan in the Desert Landscape area of the Guard Gated Community of Leisure World. This Great Split Floor Plan boasts 3 Good Sized Bedrooms with fresh paint, Master has a spacious ensuite with Double Sinks, Walk-in Closet &Private Water Closet! Ceiling Fans , Tile in all the right Places, New Carpet! Newer Windows and Sliding doors. Large, front covered patio as well as Large Entertaining Screened-in Back patio! Beautiful yard with citrus trees! All tile grout was cleaned! 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, amazing fitness center, arts & crafts, billiards 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Fremont Junior High School High Regular 976 48 7

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

Fremont Junior High School

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

$239,310$292,490$265,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$981
Property Tax -$157
Property Insurance -$55
HOA -$290
Property Management Fees -$99
CASH FLOW
-$192

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.

$265,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.52%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,214

INVESTMENT

$76,214

Down Payment
$66,475
Rehab Estimate
$5,750
Closing Costs
$3,989

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,475
Loan Amount $199,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,522

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3504$1,3905$1,650
$1,650
RENT COMPS ANALYSIS
  • 1852 Leisure World -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.97
    •  
  • 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
Jill Vicchy Heimpel
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165608
Last Updated: 11/29/2020
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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