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2432 S Terrell -- Mesa, AZ 85209

3 Beds 2 Baths 1,523 sqft Built 2001

$310,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $203.55
  • 3 Days on Market
  • MLS # : 6157277
  • Updated Date : 11/06/2020 at 15:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,523 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Great Gilbert School District. Functional floor plan with open vaulted ceiling. 2-tone paint. Many updates got done recently: 2'' wood blinds installed 2 months ago, 9 months old water heater, 2 years old garage electric door opener. Granite kitchen counter tops with under-mount sinks. All stainless steel appliances include reverse osmosis system, both fridges, & washer/dryer all stay. Kitchen island. Masterbed features with separate tub/shower, walk-in closet, & dual-sinks. Water softener system. Bose speakers system with subwoofer. RV gate & RV parking. Covered patio. Security door. Sunscreens. Ceiling fans thru-out with remote controls. Pre-wired for security system. Programable thermostat. So many and easy access to both freeways!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lesueur Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: Lesueur Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9871567

* 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
 

$279,000$341,000$310,000

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 -$1,144
Property Tax -$187
Property Insurance -$57
HOA -$18
Property Management Fees -$99
CASH FLOW
-$75

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.

$310,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.46%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,236

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
  • $0.94

    LIST RENT PER SQFT
  • $1,443

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,5253$1,5504$1,5655$1,695
$1,695
RENT COMPS ANALYSIS
  • 2432 S Terrell -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.94
    •  
  • 8543 E Lakeview Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 2001
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
  • 8548 E Laguna Azul Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2001
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 8526 E Meseto Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2000
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.94
    •  
  • 2329 S Gordon Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2001
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
PROPERTY LISTING DETAILS
Uy Quoc Tran
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157277
Last Updated: 11/06/2020
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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