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2548 S Patterson -- Mesa, AZ 85202

3 Beds 2 Baths 1,731 sqft Built 1977

$340,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $196.42
  • 3 Days on Market
  • MLS # : 6181377
  • Updated Date : 01/16/2021 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,731 sqft
  • Baths : 1 full , 1 half
Listing Agent

Redeemed Real Estate

Listing Agent's Description

Great DOBSON RANCH single family home in the well established highly desirable golf course neighborhood. This home as recently been updated with BRAND NEW CARPET, UPDATED CABINETRY, REMODELED MASTER SHOWER, AND FRESH INTERIOR PAINT. Layout features 2 main living areas, lots of natural light and HUGE BEDROOMS. Backyard is spacious with large covered patio, mature trees, and large storage shed. Walking distance to Eaglecrest Enrichment School. This is the ONLY HOME in Dobson Ranch and surrounding area under 350K! Just minutes to the 60 and 101 freeways. Come see this home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k278k

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

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181705

* 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
Dobson High School High Regular 2,639 122 4

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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,181
Property Tax -$176
Property Insurance -$61
HOA -$15
Property Management Fees -$99
CASH FLOW
$147

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.

$340,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.2%
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$0.0$5.0k$10k$15k$20k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$35,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6453$1,6804$1,6955$1,775
$1,775
RENT COMPS ANALYSIS
  • 2548 S Patterson -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.97
    •  
  • 1606 W Natal Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1975
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 1345 W Laguna Azul Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1978
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.00
    •  
  • 1734 W Natal Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1975
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 1355 W Nido Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1979
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.03
    •  
PROPERTY LISTING DETAILS
Chris Lundberg
Redeemed Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181377
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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