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2741 Leisure World -- Mesa, AZ 85206

3 Beds 2 Baths 1,692 sqft Built 1990

$299,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $176.71
  • 2 Days on Market
  • MLS # : 6157785
  • Updated Date : 11/07/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,692 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Classic

Listing Agent's Description

This lovely 3 bedroom home is situated on a corner lot and features Monier Roofing, upgraded windows and the kitchen cabinets have been replaced. This home shows pride of ownership.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
Fremont Junior High School High Regular 976 48 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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,103
Property Tax -$176
Property Insurance -$60
HOA -$290
Property Management Fees -$99
CASH FLOW
-$279

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.

$299,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5504$1,7255$1,899
$1,899
RENT COMPS ANALYSIS
  • 2741 Leisure World -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 1893 Leisure World -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 5738 E Garnet Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 5440 E Drummer Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
  • 1342 S Salem -- Mesa, AZ 5
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.93
    •  
PROPERTY LISTING DETAILS
Barbara A Shadoan
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157785
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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