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2246 S Las Flores -- Mesa, AZ 85202

4 Beds 3 Baths 2,080 sqft Built 1975

$495,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $237.98
  • 4 Days on Market
  • MLS # : 6200477
  • Updated Date : 03/05/2021 at 16:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,080 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

MODEL PERFECT HOME located in highly desirable Dobson Ranch area! Property features: 4 bdrms+Den & 2.5 baths remodeled w/ the finest finishes! Designer touches throughout: Floating Beds in Guest Rooms,Marble countertops,GORGEOUS kitchen w/ undermount lighting,Custom cabinets,utility sink in garage,R/V Gate/Toy parking & more! Incredible resort outdoor living area w/ firepit & seating area.And one of a kind HOA APPROVED She-Shed or He-Shed is like having 2 houses on 1 property. HOA includes access to 4 pools & 1 splash pad and property is in walking distance to fishing lakes and parks. THIS WONT LAST LONG!! PERFECT 10!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k278k

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

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181705

* 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
Rhodes Junior High School Middle Regular 985 52 4
Dobson High School High Regular 2,639 122 4

Rhodes Junior High School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 52
4
GreatSchools Rating

Dobson High School

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

$445,500$544,500$495,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,719
Property Tax -$257
Property Insurance -$68
HOA -$15
Property Management Fees -$99
CASH FLOW
-$188

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.

$495,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$1,9704$2,2505$2,500
$2,500
RENT COMPS ANALYSIS
  • 2246 S Las Flores -- Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.95
    •  
  • 2110 E Dunbar Drive Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1973
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 2636 W Laguna Azul Avenue Mesa, AZ 2
    • 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 1976
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 2042 E Ellis Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,047 Sqft ∙ Built 1972
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.10
    •  
  • 2245 S Noche De Paz -- Mesa, AZ 5
    • 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1974
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Lauren Ellington
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200477
Last Updated: 03/05/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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