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1860 S Rialto -- Mesa, AZ 85209

5 Beds 4 Baths 3,415 sqft Built 1998

$515,500

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $150.95
  • 3 Days on Market
  • MLS # : 6203212
  • Updated Date : 03/07/2021 at 00:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,415 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mojica & Associates Real Estate

Listing Agent's Description

**BEAUTIFUL REMODEL** Very functional floor plan with enough space for everyone! 3400+ sq ft for only $151 a sq ft! NEW Exterior and Interior two tone paint! NEW ROOF! Walk in to 22' vaulted ceiling greeted by living/dining room, an office to your left with French doors, can easily be converted to a 5th bedroom! NEW Laminate flooring, NEW upgraded Carpet! Open Kitchen, Granite with island, tons of cabinet space!NEW modern sink, stainless steel appliances, open Huge Great room! NEW Light fixtures and fans! Bedroom downstairs with full bathroom very private for guests or in laws! Huge master bedroom and bathroom upstairs along with two additional bedrooms, office/desk area, and a loft! 3 Car garage! Big back yard, orange trees, NO back neighbors! Extra length covered patio! Send your offer

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k391k

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

Neighborhood: Sierra Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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
Smith Junior High School Middle Regular 988 51 6
Skyline High School High Regular 2,567 121 5

Smith Junior High School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 51
6
GreatSchools Rating

Skyline High School

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

$463,950$567,050$515,500

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,791
Property Tax -$322
Property Insurance -$94
HOA -$49
Property Management Fees -$99
CASH FLOW
-$125

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.

$515,500

PROJECTED PRICE

$2,230

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,358

INVESTMENT

$142,358

Down Payment
$128,875
Rehab Estimate
$5,750
Closing Costs
$7,733

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,791

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,875
Loan Amount $386,625
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$18,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,476

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2304$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1860 S Rialto -- Mesa, AZ 3
    • 5 beds 4 baths ∙ 3,415 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,415 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.65
    •  
  • 2062 S Sabrina Street Mesa, AZ 1
    • 5 beds 3 baths ∙ 3,075 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,075 Sqft ∙ Built 2005
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 10419 E Kiva Avenue Mesa, AZ 2
    • 4 beds 3 baths ∙ 3,075 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,075 Sqft ∙ Built 2005
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 9641 E Laguna Azul Avenue Mesa, AZ 4
    • 5 beds 3 baths ∙ 3,409 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,409 Sqft ∙ Built 2000
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 9442 E Lompoc Avenue Mesa, AZ 5
    • 4 beds 3 baths ∙ 3,585 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,585 Sqft ∙ Built 2000
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.73
    •  
PROPERTY LISTING DETAILS
Dora Estrella
Mojica & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203212
Last Updated: 03/07/2021
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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