Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2303 N Adair Circle Mesa, AZ 85207

4 Beds 2 Baths 1,847 sqft Built 2000

$429,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $232.76
  • 2 Days on Market
  • MLS # : 6209834
  • Updated Date : 03/19/2021 at 23:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,847 sqft
  • Baths : 2 full
Listing Agent

Canam Realty Group

Listing Agent's Description

Welcome Home!!! This Gorgeous 4 bedroom 2 bath home at the Desirable Boulder Mountain Highlands is in a Fantastic location. Close to Restaurants, Shopping, Schools, multiple parks including Usery Mountain Regional Park, and easy access to the 202 Red Mountain Fwy. This home has a great open concept floor plan. Your kitchen has a gas range, stainless steel appliances, filtered water, solid surface counter tops and island for extra prep & storage. Your Spacious Master Suite offers a dual vanity, walk in closet, a separate shower and soaking tub, and a plethora of natural light. Your low maintenance backyard offers gorgeous mountain views, a gas fire pit, and heated pebble tech pool & spa with rock formation waterfall surrounded by pavers that just make this backyard look sharp!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Boulder Mountain Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $109k404k

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

Neighborhood: Boulder Mountain Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10342161

* 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
Smith Junior High School Middle Regular 988 51 6
Skyline High School High Regular 2,567 121 5

Smith Junior High School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 51
6
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,493
Property Tax -$223
Property Insurance -$63
HOA -$25
Property Management Fees -$99
CASH FLOW
$116

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.

$429,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$35,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9503$1,9504$2,0205$2,150
$2,150
RENT COMPS ANALYSIS
  • 2303 N Adair Circle Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.09
    •  
  • 2310 N Adair Circle Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
  • 9628 E Gary Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2002
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.08
    •  
  • 2348 N Malachite -- Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.08
    •  
  • 8528 E Kael Street Mesa, AZ 5
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2013
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Rick Metcalfe
Canam Realty Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209834
Last Updated: 03/19/2021
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.

BESbswy