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2662 S Springwood Boulevard #472 Mesa, AZ 85209

3 Beds 2 Baths 1,702 sqft Built 2010

$440,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $258.52
  • 2 Days on Market
  • MLS # : 6212852
  • Updated Date : 03/26/2021 at 22:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Immaculate 1700 sqft golf condo in Sunland Springs Village North/South facing. Great views from both front and back patio's. Granite counters and staggered cabinets in kitchen, Master bath has engineered marble shower and sinks and a walk-in closet. Garage has finished flooring and plenty of storage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunland Springs Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k340k

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

Neighborhood: Sunland Springs Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181746

* 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
Desert Ridge Jr. High School Middle Regular 1,377 60 8
Desert Ridge High School High Regular 2,752 119 6
Desert Ridge Jr. High School Middle Unknown NA

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 60
8
GreatSchools Rating

Desert Ridge High School

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

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,528
Property Tax -$266
Property Insurance -$60
HOA -$12
Property Management Fees -$99
CASH FLOW
-$465

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.

$440,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5493$1,7004$1,7955$1,799
$1,799
RENT COMPS ANALYSIS
  • 2662 S Springwood Boulevard #472 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 11525 E Persimmon Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2000
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.01
    •  
  • 10622 E Plata Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2000
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 2606 S 107th Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2016
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
  • 2848 S 106th Place Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2000
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mark W. Burright
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212852
Last Updated: 03/26/2021
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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