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235 N 22nd Place #539 Mesa, AZ 85213

3 Beds 2 Baths 1,596 sqft Built 1987

$268,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $167.92
  • 2 Days on Market
  • MLS # : 6163337
  • Updated Date : 11/20/2020 at 18:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Two-story home with plenty of natural light and a two-car garage on a quite, tree-lined street. Upgraded features include overall interior paint, newer carpet, upgraded bathrooms, laminate, and tile flooring. New heat-pump/air conditioning installed July 17, 2020. Fenced back yard. The common areas maintenance part of the HOA including two swimming pools. Owner/agent.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eastbrook-Stratford Estates

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $59k271k

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

Neighborhood: Eastbrook-Stratford Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7461567

* 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
 

$241,200$294,800$268,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$989
Property Tax -$139
Property Insurance -$58
HOA -$90
Property Management Fees -$99
CASH FLOW
$55

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.

$268,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$76,770

INVESTMENT

$76,770

Down Payment
$67,000
Rehab Estimate
$5,750
Closing Costs
$4,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,000
Loan Amount $201,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$23,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,620

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4253$1,4304$1,4855$1,625
$1,625
RENT COMPS ANALYSIS
  • 235 N 22nd Place #539 Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.90
    •  
  • 125 N 22nd Place #71 Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 2001
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 2528 E Contessa Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1994
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.96
    •  
  • 125 N 22nd Place #45 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1999
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.06
    •  
  • 125 N 22nd Place #102 Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2000
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.04
    •  
PROPERTY LISTING DETAILS
Stephen Dixon
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163337
Last Updated: 11/20/2020
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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