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2625 N 24th Street #21 Mesa, AZ 85213

6 Beds 4 Baths 5,308 sqft Built 1999

$1,050,000

List Price

$3,610

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $197.81
  • 42 Days on Market
  • MLS # : 6136317
  • Updated Date : 10/30/2020 at 21:38
CONSTRUCTION
  • Beds : 6
  • Floor Size : 5,308 sqft
  • Baths : 4 full
Listing Agent

West Usa Realty

Listing Agent's Description

Upgrades Galore in this stunning 6 bedroom 4 bath home with theater room, wet bar, and huge game room. Seller has invested well over $250,000 in updating and improvements. Check out the photos, aerial video and virtual tour. See the remodeled & updated kitchen, brushed leathered marble countertops with satin finish, New RO, New lighting, New farmhouse sink with apron front, New faucet w/ touchless technology, Chefs 6 burner gas stove, 2 ovens, Uline ice maker, Central VAC, Plantation shutters, Wainscoting, Crown molding, Coffered ceilings, each room is wired with speakers for music. Don't get me started on the pool! It's one of a kind! Heated Pool & Spa, swim up bar w/ granite countertop and seating, rock climbing wall, jumping ledge, custom slide with 2 foot drop

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k329k

* 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
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$3,249$3,971$3,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,610
EXPENSES Loan Payment -$3,874
Property Tax -$715
Property Insurance -$131
HOA -$17
Property Management Fees -$99
CASH FLOW
-$1,226

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.

$1,050,000

PROJECTED PRICE

$3,610

PROJECTED RENT

0.34%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,610

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $3,928

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,610
1$3,6102$4,000
$4,000
RENT COMPS ANALYSIS
  • 2625 N 24th Street #21 Mesa, AZ 1
    • 6 beds 4 baths ∙ 5,308 Sqft ∙ Built 1999 6 beds 4 baths ∙ 5,308 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $3,610
    • $0.68
    •  
  • 2336 N Val Vista Drive Mesa, AZ 2
    • 6 beds 6 baths ∙ 5,440 Sqft ∙ Built 2004 6 beds 6 baths ∙ 5,440 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.74
    •  
PROPERTY LISTING DETAILS
Marline Haymond
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6136317
Last Updated: 10/30/2020
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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