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2131 S Primrose -- Mesa, AZ 85209

2 Beds 2 Baths 1,572 sqft Built 1987

$294,500

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $187.34
  • 6 Days on Market
  • MLS # : 6161361
  • Updated Date : 11/17/2020 at 10:22
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,572 sqft
  • Baths : 2 full
Listing Agent

Prosmart Realty

Listing Agent's Description

Great Location!! This furnished home is conveniently located walking distance from the main recreational area and auditorium. This home features a large wide-open great room with center island, granite countertops and backsplash, plenty of oak cabinets and a large open eating area. The master is complete with a large walk-in shower. Other features include a large laundry room which doubles as an office with lots of additional cabinets. The two-car garage has a large golf cart storage area/workshop with workbench. The garage, front patio and rear patio have been upgraded with epoxy surface. Other upgrades include water softener, ceiling fans and some sunscreens. Come enjoy this active 55+ community that offers pickleball, tennis, swimming pools, fitness centers, wood shop, library, shows,

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunland Village East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k277k

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

Neighborhood: Sunland Village East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Boulder Creek Elementary School Primary Regular 690 42 6
Desert Ridge Jr. High School Middle Regular 1,377 60 8
Desert Ridge High School High Regular 2,752 119 6

Boulder Creek Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 42
6
GreatSchools Rating

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 60
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating
 

$265,050$323,950$294,500

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,087
Property Tax -$172
Property Insurance -$58
HOA -$4
Property Management Fees -$99
CASH FLOW
-$79

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.

$294,500

PROJECTED PRICE

$1,340

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.8%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,793

INVESTMENT

$83,793

Down Payment
$73,625
Rehab Estimate
$5,750
Closing Costs
$4,418

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,087

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,625
Loan Amount $220,875
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,972

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
  • $1,423

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1453$1,1504$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 2131 S Primrose -- Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,572 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,572 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1250 S Rialto Drive #38 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,227 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,227 Sqft ∙ Built 2007
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.93
    •  
  • 9255 E Lompoc Avenue Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,275 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,275 Sqft ∙ Built 2000
    property image
    LEASED 08/30/30
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.90
    •  
  • 2032 S Luther Avenue Mesa, AZ 4
    • 2 beds 3 baths ∙ 1,566 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,566 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 8241 E Medina Avenue Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,658 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,658 Sqft ∙ Built 1993
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Brian Christopher Mckernan
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161361
Last Updated: 11/17/2020
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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