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2251 S Catarina Circle Mesa, AZ 85202

3 Beds 2 Baths 2,374 sqft Built 1980

INVESTimate

$499,000

List Price

$2,080

$1,872 - $2,288

Rent Est.

$524,948  ( +5.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $210.19
  • 3 Days on Market
  • MLS # : 6121662
  • Updated Date : 08/25/2020 at 10:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,374 sqft
  • Baths : 2 full
Listing Agent

Home Centric Real Estate, Llc

Listing Agent's Description

Beautiful corner lot home in Cul De Sac has inviting curb appeal with a custom built front courtyard! A stunning open floor plan with vaulted ceilings. 600 ft. living room! Home office/formal living or dining, many possibilities! The large family room has beautiful oak wood floors and a cozy fireplace. The bright kitchen has white cabinets, granite counters, induction cooktop, wall mount oven, wine fridge & breakfast bar. The owner's suite has a private entrance, sitting area, sliding barn door for water closet, double vanity, tiled shower & walk-in closet. Generous sized bedrooms. The resort style backyard has a covered patio, pebble tec pool w/water features, nice grass areas, built-in BBQ and bar top. Easy access to schools, shopping and major freeways

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Dobson High School High Regular 2,639 122 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

Dobson High School

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

$449,100$548,900$499,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,841
Property Tax -$259
Property Insurance -$77
HOA -$46
Property Management Fees -$99
CASH FLOW
-$242

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.

$499,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.20%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,675

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,326

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,0804$2,5955$2,595
$2,595
RENT COMPS ANALYSIS
  • 2251 S Catarina Circle Mesa, 3
    • 3 beds 2 baths ∙ 2,535 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,535 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.82
    •  
  • 2080 E Dunbar Drive Tempe, 1
    • 4 beds 2 baths ∙ 2,267 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,267 Sqft ∙ Built 1972
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 2357 S Paseo Loma Circle Mesa, 2
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1983
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 1355 W Lobo Avenue Mesa, 4
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1978
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.98
    •  
  • 2508 W Monte Avenue Mesa, 5
    • 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1979
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.97
    •  
PROPERTY LISTING DETAILS
Christina M Norsworthy
Home Centric Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121662
Last Updated: 08/25/2020
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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