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222 W Brown Road #48 Mesa, AZ 85201

3 Beds 2 Baths 1,343 sqft Built 1981

$190,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $141.47
  • 4 Days on Market
  • MLS # : 6156249
  • Updated Date : 11/05/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,343 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

This Charming 3 bedroom/2 bath townhome is MOVE IN READY! This home boasts a downstairs master suite, 2 nice sized guest rooms & guest bath upstairs. 2-tone interior paint. Large great room opens up to the kitchen which offers tile floors, dining space, white appliances and large laundry/pantry. Great private outdoor space plenty of room for a pet, BBQ. Storage shed. Corner lot located in the back of the community. Easy commute to the 202 and many other conveniences! This home is a perfect starter home or great if you are looking to downsize! Come take a look today before its gone!

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
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$701
Property Tax -$99
Property Insurance -$53
HOA -$215
Property Management Fees -$99
CASH FLOW
$103

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.

$190,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.67%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$20,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,417

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3953$1,4004$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 222 W Brown Road #48 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $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
    property image
    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
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.12
    •  
  • 114 W Hunter Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1979
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.07
    •  
  • 910 N Cherry -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1978
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Shanna Day
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156249
Last Updated: 11/05/2020
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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