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243 N 56th Place Mesa, AZ 85205

3 Beds 3 Baths 1,737 sqft Built 2017

$370,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $213.01
  • 4 Days on Market
  • MLS # : 6208165
  • Updated Date : 03/20/2021 at 16:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,737 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

This home has an inviting open-floorplan & is perfectly located in the lovely quaint Albany Village Community! With all of it's windows showing-off the view of the beautifully manicured ''green-belt'', the 1st floor is set up for time with family and/or entertaining or simply relaxing. As you walk in, you can feel the peace in the wide open space the kitchen and living area encompass. All stainless steel appliances remain, as they compliment the granite counter tops. This home is versatile & can be your ''lock-and-leave'' or primary home with your own private yard to relax-in & enjoy. The community features a pool, playground, friendly active caring neighbors & lots of green space! It's also near LOTs of dining/shopping while being CENTRALLY LOCATED in Mesa near the US-60 & 202 LOOP.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,285
Property Tax -$231
Property Insurance -$61
HOA -$93
Property Management Fees -$99
CASH FLOW
-$230

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.

$370,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5953$1,5954$1,5995$1,700
$1,700
RENT COMPS ANALYSIS
  • 243 N 56th Place Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.89
    •  
  • 317 N 56th Place Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 2018
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 304 N 56th Place Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2018
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 312 N Sandal Place Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2017
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.03
    •  
  • 229 N Sandal -- Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2017
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
PROPERTY LISTING DETAILS
Deborah Holzkamp
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208165
Last Updated: 03/20/2021
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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