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254 N 56th Place Mesa, AZ 85205

4 Beds 3 Baths 2,415 sqft Built 2018

$400,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $165.63
  • 3 Days on Market
  • MLS # : 6167828
  • Updated Date : 12/04/2020 at 13:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,415 sqft
  • Baths : 3 full
Listing Agent

Homie

Listing Agent's Description

TOTALLY upgraded inside and out. Plank tile flooring, custom blinds, paint and ceiling fans. Energy efficient home. Chef's kitchen: stainless steel appliances w/Gas range, Granite counters, Large Island. Recessed and Pendant lighting. 1st floor has a Bedroom/Office, full bathroom. Upstairs has a Loft, 3 Bedrooms, & Laundry room. Master Suite features designer soaking Tub & Sep Shower, & large Walk-in Closet. Private back Patio. One year left on home warranty. Shows like a model home.

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Red Mountain High School High Regular 3,347 145 7

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Red Mountain High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,476
Property Tax -$250
Property Insurance -$74
HOA -$93
Property Management Fees -$99
CASH FLOW
-$132

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.

$400,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.47%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$16,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,053

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8604$1,9755$2,000
$2,000
RENT COMPS ANALYSIS
  • 254 N 56th Place Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.77
    •  
  • 1234 N Balboa Street Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2018
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 5360 E Carol Avenue Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 1347 N Balboa Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2019
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.88
    •  
  • 6846 E Butte Street Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2020
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Dorrie J Sauerzopf
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167828
Last Updated: 12/04/2020
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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