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2662 S Santa Rita -- Mesa, AZ 85209

3 Beds 3 Baths 2,148 sqft Built 2017

$372,500

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $173.42
  • 2 Days on Market
  • MLS # : 6169628
  • Updated Date : 12/12/2020 at 21:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Popular model in Mulberry all bedrooms upstairs, 2.5 bathrooms. The great room is open to formal Dining and Kitchen, Kitchen has Island, White cabinets with granite counter tops and walkin pantry, home has tall ceilings and slider door to back yard. No pets ever, well taken care of by first owner. More parking behind garage for visitors. 2 pools, recreation center and gym included in hoa fee. Lots of activities. owners suite and covered front porch have mountain views . Added to home: white shutters, surround sound & outdoor lights for the back yard. Firepit area & even a switch for outside holiday lights in garage. Water softener & filtration system stays. Tile throughout down stairs with carpet upstairs.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k280k

* 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
Augusta Ranch Elementary School Primary Regular 1,038 51 8
Augusta Ranch Elementary School Middle Regular 1,038 51 8
Desert Ridge High School High Regular 2,752 119 6

Augusta Ranch Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 51
8
GreatSchools Rating

Augusta Ranch Elementary School

  • Education Level: Middle
  • # of students: 1,038
  • # of teachers: 51
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating
 

$335,250$409,750$372,500

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,374
Property Tax -$225
Property Insurance -$69
HOA -$60
Property Management Fees -$99
CASH FLOW
$133

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.

$372,500

PROJECTED PRICE

$1,960

PROJECTED RENT

0.53%

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$1.0M$1.2M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,463

INVESTMENT

$104,463

Down Payment
$93,125
Rehab Estimate
$5,750
Closing Costs
$5,588

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,374

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,125
Loan Amount $279,375
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$41,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,143

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$2,0953$2,1004$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 2662 S Santa Rita -- Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.91
    •  
  • 10509 E Olla Avenue Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2000
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 2619 S 107th Street Mesa, AZ 3
    • 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2016
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 10658 E Nido Avenue Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2018
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
  • 2617 S 106th Way Mesa, AZ 5
    • 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2016
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
PROPERTY LISTING DETAILS
Edith Gilbertsen
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169628
Last Updated: 12/12/2020
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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