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

2161 W Obispo Avenue Mesa, AZ 85202

3 Beds 2 Baths 1,597 sqft Built 1977

$389,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $244.15
  • 4 Days on Market
  • MLS # : 6175744
  • Updated Date : 12/31/2020 at 02:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent

Dpr Realty Llc

Listing Agent's Description

Absolutely Gorgeous 3 bedroom Remodeled home in an awesome neighborhood on an oversized corner lot. Step inside to find a completely remodeled interior with formal living & dining rooms, family room and an extra room perfect for an office/hobby area. Gorgeous wood plank tile throughout. New Carpet, paint and lighting. Fabulous kitchen is equipped with stainless steel appliances, custom cabinets,pantry,subway tile backsplash,quartz countertops and a kitchen island that dreams are made of .Master bedroom has a walk-in closet,,floor to ceiling tiled shower and custom cabinetry and quartz tops. Oversized backyard offers a refreshing blue diving pool,a patio great for taking some shade between swims and an storage shed. Close to the freeways, dining and schools. This location is hard to beat!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Dobson High School High Regular 2,639 122 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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,439
Property Tax -$202
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$138

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.

$389,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$16,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,789

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6603$1,6954$1,7995$1,800
$1,800
RENT COMPS ANALYSIS
  • 2161 W Obispo Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.04
    •  
  • 3222 N Woodburne Drive Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1979
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.10
    •  
  • 1734 W Natal Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1975
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 2066 W Peralta Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1976
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.11
    •  
  • 1806 W Straford Drive Chandler, AZ 5
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1980
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
PROPERTY LISTING DETAILS
Amy Mirata
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175744
Last Updated: 12/31/2020
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