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2257 E Lockwood Street Mesa, AZ 85213

5 Beds 3 Baths 2,559 sqft Built 1992

$489,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $191.44
  • 4 Days on Market
  • MLS # : 6159337
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,559 sqft
  • Baths : 3 full
Listing Agent

Infinity & Associates Real Estate

Listing Agent's Description

A RARE OPPORTUNITY to own in the desirable, semi-custom community of Citrus Del Ray. Perfectly located off Red Mountain Freeway and Gilbert Rd. Bring your R/V AND boat. Huge full-slab parking and R/V gate. No-NOA. Pride of ownership in this beautiful community simply does not warrant one. Complete recent remodel and upgraded kitchen to include additional pantry and French Doors, gas, stainless, stunning granite, upgraded windows, and real hardwood throughout entire downstairs, landing stairs and upper level. This home was built for multi-gen living. HUGE downstairs living area with two beds, full bath and large laundry with additional pantry/storage. Seller made recent roof repair 11/13/20 and Zero-Res whole-house service completed 11/10/20. New Floors 11/10/20.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k329k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$440,910$538,890$489,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,808
Property Tax -$334
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$177

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.

$489,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$20k

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$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$20,460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,341

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9453$2,2504$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 2257 E Lockwood Street Mesa, AZ 1
    • 5 beds 3 baths ∙ 2,559 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,559 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2458 E Glencove Street Mesa, AZ 2
    • 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 1973
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.87
    •  
  • 1230 E Gary Circle Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1991
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
  • 1532 E Juniper Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1988
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
  • 1251 E Kramer Circle Mesa, AZ 5
    • 5 beds 3 baths ∙ 2,781 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,781 Sqft ∙ Built 2001
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jason Schenk
Infinity & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159337
Last Updated: 11/13/2020
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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