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2821 S Skyline Drive #131 Mesa, AZ 85212

2 Beds 3 Baths 1,485 sqft Built 2017

$294,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $197.98
  • 4 Days on Market
  • MLS # : 6153052
  • Updated Date : 11/02/2020 at 03:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,485 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dpr Realty Llc

Listing Agent's Description

IT'S A WOW....BEAUTIFUL PREMIER TOWNHOUSE nestled in the GATED COMMUNITY of The Village at Mesa Grande. SOARING CEILINGS and OPEN FLOOR PLAN! Kitchen is beautifully done. Dark luxurious cabinets with soft close doors and drawers. GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, R/O SYSTEM, WATER SOFTENER. WOOD GRAIN CERAMIC TILE FLOORING. Built-in CLASSY CLOSETS. PLANTATION SHUTTERS and ceiling fans throughout the home. OWNER'S SUITE has a WALK OUT BALCONY and a nice large closet. OVERSIZED 2-CAR GARAGE WITH EPOXY FLOORS. Spectacular grounds with HEATED POOL and SPA! Truly feels like RESORT LIVING. Location is perfect. 202 is at your fingertips, with local RESTAURANTS and SHOPPING CENTERS within a couple of miles. RESORT LIVING AT YOUR BEST! BRING YOUR PICKIEST BUYER AND THEY WILL LO

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PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k328k

* 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
Canyon Rim Elementary School Primary Regular 929 50 8
Canyon Rim Elementary School Middle Regular 929 50 8
Desert Ridge High School High Regular 2,752 119 6

Canyon Rim Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 50
8
GreatSchools Rating

Canyon Rim Elementary School

  • Education Level: Middle
  • # of students: 929
  • # of teachers: 50
8
GreatSchools Rating

Desert Ridge High School

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

$264,600$323,400$294,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,085
Property Tax -$178
Property Insurance -$56
HOA -$165
Property Management Fees -$99
CASH FLOW
-$102

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.

$294,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$83,660

INVESTMENT

$83,660

Down Payment
$73,500
Rehab Estimate
$5,750
Closing Costs
$4,410

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,500
Loan Amount $220,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,329

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1503$1,395
$1,395
RENT COMPS ANALYSIS
  • 2821 S Skyline Drive #131 Mesa, AZ 1
    • 2 beds 3 baths ∙ 1,485 Sqft ∙ Built 2017 2 beds 3 baths ∙ 1,485 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9255 E Lompoc Avenue Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,275 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,275 Sqft ∙ Built 2000
    property image
    LEASED 08/30/30
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.90
    •  
  • 2032 S Luther Avenue Mesa, AZ 3
    • 2 beds 3 baths ∙ 1,566 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,566 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
PROPERTY LISTING DETAILS
Salli Ann Cline
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153052
Last Updated: 11/02/2020
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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