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248 N 54th Street Mesa, AZ 85205

2 Beds 2 Baths 1,314 sqft Built 1960

$260,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $197.87
  • 2 Days on Market
  • MLS # : 6206329
  • Updated Date : 03/14/2021 at 03:31
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,314 sqft
  • Baths : 2 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

Beautiful renovated 2 bed, 2 bath home nestled in the dreamy 55+ community of Dreamland Villa is a must see! This adorable home has an updated kitchen with white shaker cabinetry, new countertops and stainless steel appliances. You'll love this open, floor plan and new flooring. Enjoy the quiet neighborhood on your front patio or relax in the enclosed ''Arizona Room''. Enclosed 1 car garage and backyard shed offer storage for toys, tools & more! Isn't it time you treat yourself to a great home? Dreamland Villa has no HOA but offers an optional membership giving you access to the wonderful amenities inc. heated pools, woodworking, lapidary, pickleball & more! Come see this great home and tour the DVRC facilities today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$903
Property Tax -$153
Property Insurance -$53
HOA -$1
Property Management Fees -$99
CASH FLOW
-$9

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,307

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1753$1,2004$1,2005$1,250
$1,250
RENT COMPS ANALYSIS
  • 248 N 54th Street Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,314 Sqft ∙ Built 1960 2 beds 2 baths ∙ 1,314 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 5239 E Boise Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1963 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1963
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.94
    •  
  • 5409 E Butte Street Mesa, AZ 2
    • 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.03
    •  
  • 319 N 61st Way Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
  • 5478 E Albany Street Mesa, AZ 5
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
PROPERTY LISTING DETAILS
Rachele M. Oram
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206329
Last Updated: 03/14/2021
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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