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2624 E Catalina Circle Mesa, AZ 85204

4 Beds 2 Baths 1,863 sqft Built 1988

INVESTimate

$345,000

List Price

$1,720

$1,548 - $1,892

Rent Est.

$375,602  ( +8.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $185.19
  • 6 Days on Market
  • MLS # : 6119275
  • Updated Date : 08/24/2020 at 12:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,863 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

NO HOA! Single level 4 bed 2 bath home on a premium cul-de-sac lot w/ a pool & an over-sized RV gate. 2 Car side entry garage. Wood laminate & tile flooring throughout. Newer roof & AC. Large Family room w/ a fireplace & vaulted ceilings. Large Eat-in Kitchen has matching appliances. Master bedroom has a walk-in closet. Master Bathroom has dual vanities w/ a separate tub & shower. Oversized laundry room w/ a sink & lots of cabinets. Low maintenance backyard w/ a pebble-tech pool. This property is close to elementary school, retail shops & freeway.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Parkview Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Neighborhood: Parkview Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10342030

* 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,273
Property Tax -$181
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
$104

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.

$345,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$35,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,4954$1,4995$1,720
$1,720
RENT COMPS ANALYSIS
  • 2624 E Catalina Circle Mesa, 5
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.92
    •  
  • 2565 E Southern Avenue #43 Mesa, 1
    • 3 beds 3 baths ∙ 1,589 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,589 Sqft ∙ Built 2007
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 2518 E Harmony Avenue Mesa, 2
    • 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1980
    property image
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.95
    •  
  • 2434 E Carol Avenue Mesa, 3
    • 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1985
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 2441 E Alpine Avenue Mesa, 4
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969
    property image
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.85
    •  
PROPERTY LISTING DETAILS
Rebekah Liperote
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119275
Last Updated: 08/24/2020
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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