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2440 N 62nd Street Mesa, AZ 85215

2 Beds 2 Baths 1,360 sqft Built 1980

$310,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $227.94
  • 2 Days on Market
  • MLS # : 6200287
  • Updated Date : 02/27/2021 at 19:49
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

COMPLETELY UPDATED HOME in the beautiful golf course community of Camelot Golf Club Estates. Home backs up perfectly to the 15th hole of the golf course. Home features 2 bedrooms, 2 bathrooms. New flooring throughout entire home. Updated dual pane windows. New white shaker cabinets in kitchen and bathroom vanities, along with gorgeous quartz countertops throughout. Entire Interior and exterior of home just painted. Come sit by the outdoor fireplace and enjoy the beautiful sunrise and sunsets that blanket the golf course behind. This home truly shines!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

* 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
 

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

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,077
Property Tax -$161
Property Insurance -$54
HOA -$1
Property Management Fees -$99
CASH FLOW
-$42

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

$1,350

PROJECTED RENT

0.44%

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.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,963

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
  • $1,343

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,2494$1,2505$1,400
$1,400
RENT COMPS ANALYSIS
  • 2440 N 62nd Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2639 N Olympic Circle Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 2625 N Recker Road #3 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.96
    •  
  • 2432 N Augusta Drive Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.08
    •  
  • 6140 E Minton Place Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Cherie Rubio
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200287
Last Updated: 02/27/2021
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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