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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $160.09
- 2 Days on Market
- MLS # : 6181907
- Updated Date : 01/16/2021 at 21:44
CONSTRUCTION
- Beds : 3
- Floor Size : 1,343 sqft
- Baths : 2 full
Listing Agent
Russ Lyon Sotheby's International Realty
Listing Agent's Description
Location Location location, Right near the Heart of Mesa! Minutes to the Chicago Cubs Spring training, A's Spring training, River View Park, eateries, shopping, Mesa Country Club, The loop 202 (Red Mountain) & the SR87. Nicely appointed Corner Unit in a Great community. Downstairs primary bedroom with new carpet, ample closet/storage space & a full bath. Second level you have the second bedroom with a huge walk in closet. 2nd full bath & the 3rd room which can be a loft w/ a closet, a office/den or a 3rd bedroom option. Upgraded kitchen with stainless steel appliances, plenty of cabinetry. High vaulted ceilings in the main living area with newer tile flooring. Newer AC unit just 2 years old & smart control thermostat. Newer Washer and Dryer Included... More...
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PRICE & RENT TRENDS
Neighborhood: NCRA
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: NCRA
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,280 |
| EXPENSES | Loan Payment | -$747 |
| Property Tax | -$112 | |
| Property Insurance | -$53 | |
| HOA | -$215 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$54
|
||
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.
$215,000
PROJECTED PRICE
$1,280
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,725
LOAN DETAILS
$747
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
6.08
YEARS SAVED
$14,682
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,280
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$1,434
COMP ESTIMATED VALUE -
$1.07
COMP AVG. RENT PER SQFT
Comps Range
-
222 W Brown Road #13 Mesa, AZ 1
- 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1983
- Rent
- Rent Per SQFT
- $1,280
- $0.95
-
222 W Brown Road #88 Mesa, AZ 2
- 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981
LEASED 09/02/20- Rent
- Rent Per SQFT
- $1,395
- $1.04
-
840 N Revere -- #101 Mesa, AZ 3
- 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1984
LEASED 10/14/20- Rent
- Rent Per SQFT
- $1,400
- $1.12
-
222 W Brown Road #51 Mesa, AZ 4
- 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981
LEASED 01/12/21- Rent
- Rent Per SQFT
- $1,400
- $1.04
-
114 W Hunter Street Mesa, AZ 5
- 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1979
LEASED 06/03/20- Rent
- Rent Per SQFT
- $1,495
- $1.07
PROPERTY LISTING DETAILS
Russ Lyon Sotheby's International Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6181907
Last Updated: 01/16/2021
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.
