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2316 N Adair Circle Mesa, AZ 85207

3 Beds 2 Baths 1,575 sqft Built 2000

$365,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $231.75
  • 3 Days on Market
  • MLS # : 6165259
  • Updated Date : 11/27/2020 at 11:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this single story home in Boulder Mountain Highlands! This home has been refreshed with new interior paint throughout. Formal living and dining room off the entry and a family open to the kitchen at the back of the home. The kitchen features granite countertops and stainless steel appliances. The primary bedroom has a full ensuite bathroom with dual sinks in a granite vanity, separate shower and tub, and a walk in closet. Two additional bedrooms and a home office down the hallway. The backyard has a covered patio extended for an area for a BBQ and outdoor furniture. Close to shopping and dining, parks, golf, hiking and biking trails and easy freeway access. Vacant and ready for viewing, come see!

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Skyline High School High Regular 2,567 121 5

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

Skyline High School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,347
Property Tax -$189
Property Insurance -$58
HOA -$24
Property Management Fees -$99
CASH FLOW
-$97

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.

$365,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$17,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,736

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6953$1,9504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 2316 N Adair Circle Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.03
    •  
  • 2310 N Adair Circle Mesa, AZ 2
    • 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 3
    • 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 4
    • 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
    •  
  • 8505 E Indigo Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 2008
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.14
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165259
Last Updated: 11/27/2020
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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