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2729 N Ricardo Street Mesa, AZ 85215

3 Beds 3 Baths 1,752 sqft Built 1990

$305,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $174.09
  • 2 Days on Market
  • MLS # : 6155552
  • Updated Date : 11/07/2020 at 10:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Estate Lifestyles, Llc

Listing Agent's Description

Light and bright home, all bedrooms are upstairs, nice tile throughout. Entry area is flex space as needed, kitchen has a gas stove, refrigerator included. Fans where you need them! Extended covered patio faces the east for maximum shade for evening fun and BBQ'ing. 2 car garage, excellent schools, easy freeway access, close to excellent medical and shopping areas. No HOA, RV gate access if wanted on a corner lot!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

* 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
Red Mountain High School High Regular 3,347 145 7

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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,125
Property Tax -$158
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$156

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.

$305,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.52%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$40,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,774

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7654$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 2729 N Ricardo Street Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 6134 E Portia Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1994
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 6233 E Palm Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1994
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $1.03
    •  
  • 3013 N Papillon Circle Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1994
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 3218 N Ravine -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1993
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Lorrie Iantaffi
Real Estate Lifestyles, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155552
Last Updated: 11/07/2020
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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