Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1931 E Marilyn Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,698 sqft Built 1961

$282,500

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $166.37
  • 2 Days on Market
  • MLS # : 6157272
  • Updated Date : 11/07/2020 at 12:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,698 sqft
  • Baths : 2 full
Listing Agent

Blanzy Realty Llc

Listing Agent's Description

This adorable single level sits just under 1700 sq ft with 3 bedrooms and 2 bathrooms. Features include a spacious family room and kitchen, stainless steel appliances, granite kitchen countertops, new back yard gazebo and back covered patio, new roof, and more. Just down the street from downtown Gilbert and right off the 60 freeway this location is tough to beet. Don't wait long to see this home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kachina Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Kachina Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7851567

* 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
Mesa High School High Regular 3,406 155 4

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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$254,250$310,750$282,500

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 -$1,042
Property Tax -$147
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
$32

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.

$282,500

PROJECTED PRICE

$1,380

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,613

INVESTMENT

$80,613

Down Payment
$70,625
Rehab Estimate
$5,750
Closing Costs
$4,238

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,625
Loan Amount $211,875
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$24,126

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
  • $0.81

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3953$1,4954$1,4995$1,715
$1,715
RENT COMPS ANALYSIS
  • 1931 E Marilyn Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.81
    •  
  • 451 S Ridge -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1962
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 1559 E Flower Circle Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 2441 E Alpine Avenue Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969
    property image
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.85
    •  
  • 1920 E Dana Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1956
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.96
    •  
PROPERTY LISTING DETAILS
Lisa M Blanzy
Blanzy Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157272
Last Updated: 11/07/2020
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.

BESbswy