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2565 E Southern Avenue #142 Mesa, AZ 85204

3 Beds 3 Baths 1,940 sqft Built 2012

$295,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $152.06
  • 3 Days on Market
  • MLS # : 6163220
  • Updated Date : 11/20/2020 at 16:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,940 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Northeast Realty

Listing Agent's Description

Come and see this adorable 3 bed, 2.5 bath property now for sale in Mesa! Featuring charming curb appeal with low maintenance front landscaping and a 2 car garage, you simply won't believe your eyes! The updated interior features an open floor plan, a cozy loft, neutral paint throughout, and a lovely kitchen equipped with ample cabinet and counter space, a pantry, stainless steel appliances, and an island complete with a breakfast bar. The master bedroom is comfortable, with its spacious walk-in closet and full bath with double sinks, separate tub and shower. The cozy backyard includes a covered patio and grassy area, perfect for spending quality time with friends and loved ones! Your new home is waiting for you, schedule a showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k271k

* 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
Mesa High School High Regular 3,406 155 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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,088
Property Tax -$153
Property Insurance -$65
HOA -$142
Property Management Fees -$99
CASH FLOW
-$38

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.

$295,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.51%

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

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$16,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,712

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5104$1,5955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2565 E Southern Avenue #142 Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.78
    •  
  • 1015 S Val Vista Drive #106 Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,590 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,590 Sqft ∙ Built 2005
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 3314 E Juanita Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1997
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 2565 E Southern Avenue #155 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2013
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 3261 E Irwin Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 1999
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Tara Kellerhals
Keller Williams Northeast Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163220
Last Updated: 11/20/2020
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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