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1932 N Mesa Drive #1 Mesa, AZ 85201

2 Beds 2 Baths 1,067 sqft Built 1998

$225,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $210.87
  • 2 Days on Market
  • MLS # : 6184907
  • Updated Date : 01/24/2021 at 00:53
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,067 sqft
  • Baths : 2 full
Listing Agent

Re/max Solutions

Listing Agent's Description

Professional photos Coming soon: You want a single family home with community pool close to everything(shopping the 202 freeway and the Cubs training center). How about a New 2020 AC system over 7500 dollars or newer sun screens, Upscale new lighting throughout, fancy new ceiling fans. ALSO 1200.00 50 AMP garage plug in(Telsa, motorhome, camper, extras to plug in). All new flooring in 2020, Vaulted ceilings , 3500.00 Bath remodel, all new blinds throughout, split floorplan. Just try and find another home with these upgrades in East Valley for less. seller has put over 20K into home in last 2 years. Home is in need of exterior paint and seller offering a 1500.00 credit for this to be done by buyer. HURRY this wont last and is priced very well, agents check remarks!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: NCRA

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: NCRA

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7871567

* 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
Westwood High School High Regular 3,131 145 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

Westwood High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$782
Property Tax -$117
Property Insurance -$48
HOA -$80
Property Management Fees -$99
CASH FLOW
$115

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.

$225,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.6%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$22,908

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
  • $1,078

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8503$9004$1,1955$1,295
$1,295
RENT COMPS ANALYSIS
  • 1932 N Mesa Drive #1 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,067 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,067 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1856 N Spring Street #201 Mesa, AZ 2
    • 2 beds 1 baths ∙ 867 Sqft ∙ Built 1984 2 beds 1 baths ∙ 867 Sqft ∙ Built 1984
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.98
    •  
  • 1856 N Spring Street #102 Mesa, AZ 3
    • 2 beds 1 baths ∙ 867 Sqft ∙ Built 1984 2 beds 1 baths ∙ 867 Sqft ∙ Built 1984
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $1.04
    •  
  • 1505 N Center Street #121 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,224 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,224 Sqft ∙ Built 2001
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.98
    •  
  • 1430 N Ashland -- Mesa, AZ 5
    • 2 beds 1 baths ∙ 1,246 Sqft ∙ Built 1982 2 beds 1 baths ∙ 1,246 Sqft ∙ Built 1982
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.04
    •  
PROPERTY LISTING DETAILS
Troy Reeves
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184907
Last Updated: 01/24/2021
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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