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1940 Leisure World -- Mesa, AZ 85206

3 Beds 2 Baths 2,156 sqft Built 1985

$328,789

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $152.50
  • 7 Days on Market
  • MLS # : 6153036
  • Updated Date : 10/28/2020 at 15:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,156 sqft
  • Baths : 1 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Check out this GREAT home in the popular Leisure World. This home has 3 bedrooms, 2 bathrooms. Large kitchen, island, and eat-in-kitchen. Large Family and Living rooms, 2 car garage, and bedroom with murphy bed. Leisure World is a gated community with a 24-hour guarded security with 2 professional designed golf courses, Fitness Center, club house, Cafe, theater, computer lab, tennis courts, pickleball courts, various clubs. Close to everything shopping, US60, medical facilities, restaurants, etc.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
Fremont Junior High School High Regular 976 48 7

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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$295,910$361,668$328,789

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,213
Property Tax -$194
Property Insurance -$69
HOA -$290
Property Management Fees -$99
CASH FLOW
-$255

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.

$328,789

PROJECTED PRICE

$1,610

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$92,879

INVESTMENT

$92,879

Down Payment
$82,197
Rehab Estimate
$5,750
Closing Costs
$4,932

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,197
Loan Amount $246,592
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,489

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,881

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6103$1,7254$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 1940 Leisure World -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.75
    •  
  • 5309 E Harmony Avenue Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2001
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.83
    •  
  • 5440 E Drummer Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
  • 5360 E Carol Avenue Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 5349 E Harmony Avenue Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Oskar Jonsson
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153036
Last Updated: 10/28/2020
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.

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