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2603 N Platina Circle Mesa, AZ 85215

3 Beds 3 Baths 2,659 sqft Built 1998

$695,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $261.38
  • 4 Days on Market
  • MLS # : 6195983
  • Updated Date : 02/20/2021 at 19:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,659 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Impossible to find Golf Course & Waterfront custom home in cul-de sac AND attached 75' RV garage with sink, cabinets, workbench, 50 amp service, & RV dump. Incredible views from every spot on lot. Soaring ceilings, Plantation Shutters. Open floor plan with updated kitchen that opens to family room with gas fireplace & built in media center. The eat-in kitchen has custom cabinets with pull out drawers, Quartz counters, electric cooktop (with gas option), wall oven & microwave, & GE Profile built-in refrigerator. Huge laundry room with gas or electric option. The primary bedroom has a balcony overlooking beautiful views of the golf course & lake, full bath, & a walk-in closet. Generous sized bedrooms. Backyard is perfect for entertaining with built-in gas BBQ & did I mention VIEWS?!?

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho del Lago

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k278k

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

Neighborhood: Rancho del Lago

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
 

$625,500$764,500$695,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,414
Property Tax -$361
Property Insurance -$79
Property Management Fees -$99
CASH FLOW
-$613

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.

$695,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,148

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
  • $2,620

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1503$2,5004$2,5505$2,950
$2,950
RENT COMPS ANALYSIS
  • 2603 N Platina Circle Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,653 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,653 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6931 E Pearl Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,475 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,475 Sqft ∙ Built 2005
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
  • 6121 E Saddleback Street Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 1987
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
  • 6638 E Melrose Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1994
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.09
    •  
  • 3643 N Eagle Canyon -- Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1998
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.07
    •  
PROPERTY LISTING DETAILS
Julie Torrance
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195983
Last Updated: 02/20/2021
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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