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2359 S 87th Place Mesa, AZ 85209

3 Beds 3 Baths 1,989 sqft Built 2001

$345,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $173.45
  • 6 Days on Market
  • MLS # : 6164454
  • Updated Date : 11/24/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,989 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

This two-story property centered in desirable Mesa is your dream home. Providing great curb appeal, a front porch ideal for relaxing afternoons, and beautiful grassy landscaping. Come take a look at this bright and welcoming interior offering everything you have been looking for. Starting with 3 bed, 2.5 bath, living/dining area, and designer paint. Enjoy cooking in this lovely eat-in kitchen complete with fireplace, centered island, honey oak cabinetry, pantry, track lighting, sparkling clean appliances, and so much more. Inside this unique master suite you will find a walk-in closet and spotless full bath with dual sinks. Enjoy your gatherings in this perfectly sized backyard with covered patio and grassy area. Close to the 202 and 60. Truly an amazing home you must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Marbella

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k271k

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

Neighborhood: Marbella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Boulder Creek Elementary School Primary Regular 690 42 6
Desert Ridge Jr. High School Middle Regular 1,377 60 8
Desert Ridge High School High Regular 2,752 119 6

Boulder Creek Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 42
6
GreatSchools Rating

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 60
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,273
Property Tax -$208
Property Insurance -$66
HOA -$21
Property Management Fees -$99
CASH FLOW
-$137

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.

$345,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,591

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
  • $1,825

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6573$1,7954$1,7995$1,850
$1,850
RENT COMPS ANALYSIS
  • 2359 S 87th Place Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8547 E Lobo Avenue Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2001
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,657
    • $0.86
    •  
  • 8549 E Desert Lane Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 8727 E Kiowa Avenue Mesa, AZ 4
    • 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2000
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.94
    •  
  • 8735 E Lakeview Avenue Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2000
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Khara Erickson
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164454
Last Updated: 11/24/2020
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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