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1920 N Steele -- Mesa, AZ 85207

3 Beds 3 Baths 2,321 sqft Built 2012

$650,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $280.05
  • 2 Days on Market
  • MLS # : 6190840
  • Updated Date : 02/06/2021 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,321 sqft
  • Baths : 3 full
Listing Agent

Superlative Realty

Listing Agent's Description

Highly upgraded, stunning home in the prestigious Mountain Bridge subdivision. Private corner lot with no neighbors directly behind, offering a spectacular view of the beautiful sunsets & city lights. Highly coveted sliding wall of glass opens up to the outdoor living area & a large covered patio w/remote controlled awnings & sunscreens. Enjoy outdoor living at its finest with a resort-like backyard, gas heated pebble tech pool & spa, water feature, freestanding fireplace & putting green. Split, open floor plan with 10' ceilings, crown molding & plantation shutters. Kitchen has the finest upgrades with beautiful cabinets, granite counters, backsplash, large island, SS appliances & walk-in pantry. Master suite is split from the other bedrooms, has dual sinks, separate tub/shower & huge walk

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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,258
Property Tax -$337
Property Insurance -$72
HOA -$55
Property Management Fees -$99
CASH FLOW
-$161

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.

$650,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.41%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$26,920

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
  • $2,437

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1503$2,2004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1920 N Steele -- Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,321 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,321 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8528 E Kael Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
  • 7360 E Norwood Street Mesa, AZ 3
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 9765 E Inglewood Circle Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 1955 N Red Cliff -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,423 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,423 Sqft ∙ Built 2017
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
PROPERTY LISTING DETAILS
Connie Wong
Superlative Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190840
Last Updated: 02/06/2021
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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