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2426 S Catarina -- Mesa, AZ 85202

5 Beds 3 Baths 2,842 sqft Built 1979

$630,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $221.67
  • 3 Days on Market
  • MLS # : 6189986
  • Updated Date : 02/06/2021 at 00:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,842 sqft
  • Baths : 3 full
Listing Agent

Realty One Group

Listing Agent's Description

RARE Waterfront home on the largest Lake in Dobson Ranch. This house truly shows pride of ownership. Stunning 5 bedrooms, 3 bathrooms on Premier Oversized Lake Lot. Soaring ceilings, a cozy corner fireplace and gorgeous flooring in all the right places. Newer A/C Units, flooring and carpet. Chefs kitchen boasts granite countertops, stainless steel appliances and custom cabinetry. Spacious primary bedroom suite includes views of the lake, a bathroom with dual sinks, soaking tub and separate glass framed shower. Three tier backyard for entertaining is complete with sparkling pool, sitting areas and amazing lake views. It is the perfect spot to enjoy the Arizona lifestyle year-round.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k278k

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

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181705

* 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
Rhodes Junior High School Middle Regular 985 52 4
Dobson High School High Regular 2,639 122 4

Rhodes Junior High School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 52
4
GreatSchools Rating

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$567,000$693,000$630,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,188
Property Tax -$327
Property Insurance -$83
HOA -$15
Property Management Fees -$99
CASH FLOW
-$202

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.

$630,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.2%
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$1.6M$1.8M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,188

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$23,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,956

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,510
1$2,5102$2,5953$2,5954$2,8975$2,999
$2,999
RENT COMPS ANALYSIS
  • 2426 S Catarina -- Mesa, AZ 1
    • 5 beds 3 baths ∙ 2,842 Sqft ∙ Built 1979 5 beds 3 baths ∙ 2,842 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.88
    •  
  • 1355 W Lobo Avenue Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1978
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.98
    •  
  • 1970 E Mcnair Drive Tempe, AZ 3
    • 4 beds 3 baths ∙ 2,769 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,769 Sqft ∙ Built 1995
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.94
    •  
  • 2086 E La Jolla Drive Tempe, AZ 4
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1974
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,897
    • $1.11
    •  
  • 1325 W Lobo Avenue Mesa, AZ 5
    • 4 beds 4 baths ∙ 2,651 Sqft ∙ Built 1978 4 beds 4 baths ∙ 2,651 Sqft ∙ Built 1978
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $1.13
    •  
PROPERTY LISTING DETAILS
Susan W Powers
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189986
Last Updated: 02/06/2021
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.

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