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222 W Brown Road #13 Mesa, AZ 85201

3 Beds 2 Baths 1,343 sqft Built 1983

$215,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
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...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: NCRA

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: NCRA

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7871567

* 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
Westwood High School High Regular 3,131 145 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

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

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
$1,280
1$1,2802$1,3953$1,4004$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 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
Aron Johnson
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181907
Last Updated: 01/16/2021
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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