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1925 W 2nd Place Mesa, AZ 85201

4 Beds 2 Baths 1,483 sqft Built 1962

$320,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $215.78
  • 4 Days on Market
  • MLS # : 6210067
  • Updated Date : 03/26/2021 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,483 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Well-loved 4 bedroom single level home with private pool in Mesa. No HOA. Located near Mesa Grande Park and Retail, Sloan Park, Light Rail access, Tempe Marketplace, Tempe Town Lake, and ASU. Home features gorgeous wood laminate floors, dual pane windows, and ceiling fans. Generously sized bedrooms and closets. Primary bedroom has private bathroom with walk-in shower and tile surround. Hall bathroom features extended vanity, tile shower surround and porcelain tub. Home offers multiple closets for ample storage. Outdoor storage room and laundry at back patio. Huge back patio extended for extra length & depth. 2 car garage with vaulted ceilings & plenty of space for future storage. Diving pool, 7158 sf lot, N/S exposure, alley and block wall. Pride of ownership evident. Showings start 3/25.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Evans Park South

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Evans Park South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8041567

* 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
Carson Junior High School Middle Regular 992 55 3
Westwood High School High Regular 3,131 145 4

Carson Junior High School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 55
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,111
Property Tax -$166
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$53

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.

$320,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3953$1,4004$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 1925 W 2nd Place Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,483 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,483 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.93
    •  
  • 540 N May -- #3114 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
  • 540 N May -- #2130 Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1981
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
  • 540 N May -- #3122 Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
  • 737 N Santa Anna Circle Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1974
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.12
    •  
PROPERTY LISTING DETAILS
Audra Holinka
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6210067
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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