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2203 N Recker Road Mesa, AZ 85215

2 Beds 2 Baths 1,152 sqft Built 1971

$219,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $190.89
  • 2 Days on Market
  • MLS # : 6170697
  • Updated Date : 12/12/2020 at 10:06
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent

Dave Barber Realty, Inc.

Listing Agent's Description

Turn-key 2 bedroom, 2 bath, 2 car garage, pool side patio home!!! This home is fully furnished and 100% move-in ready. Updated kitchen and baths with all appliances and a brand new walk-in tub! Granite counter tops, earth tone paint, 18'' tile, all accenting a wonderful location in both Mesa and the Camelot community itself. 2 large bedrooms, 2 storage rooms, a nice covered patio and uncovered patio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camelot Country Club Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Camelot Country Club Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10071590

* 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
Red Mountain High School High Regular 3,347 145 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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$811
Property Tax -$114
Property Insurance -$50
HOA -$90
Property Management Fees -$99
CASH FLOW
$86

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.

$219,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$24,316

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
  • $1,247

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,2504$1,2955$1,295
$1,295
RENT COMPS ANALYSIS
  • 2203 N Recker Road Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2432 N Augusta Drive Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.08
    •  
  • 2241 N Recker Road Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.09
    •  
  • 2151 N Recker Road Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1971
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.04
    •  
  • 2209 N Recker Road Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1974
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.12
    •  
PROPERTY LISTING DETAILS
David L Barber
Dave Barber Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170697
Last Updated: 12/12/2020
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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