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301 N Ironwood -- Mesa, AZ 85201

3 Beds 2 Baths 1,650 sqft Built 1962

$304,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $184.79
  • 2 Days on Market
  • MLS # : 6170676
  • Updated Date : 12/12/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Dream-Home Stylish & Designer-Trendy 3Bdrm, 2Ba in Evans Park. Stunning Street Presence on oversized wedge lot. Covr'd Carprt at Frnt Entry on Circlr Dr+ Extnd 1.5cg w Cabss. Grassy Privacy Bckyard + Charming Bistro Patio. Tile/Wood laminate Grt & Fam Rm openly connects Galley Kitchen w/Grey Craftman Quality Cabs,, Stnls Refrig, Glass Cooktop, Wall Oven. Micro, Frml DinRm w white /Blt-in Hutch w Glass Drs, Satin Nickell Cup Pulls, Display Shelvs, ,Under Cab Stemwre Rack & 20 Bottle Wine Storage.. Oversizd LndryRm w Wood Frs, Fab Cabs & Flex Function. Mstr Bdrm Ste w/ gorgeous Sliding Barn Door. Updated baths w/Cstm touches. 4 Hallway Closets. Prime Entertainment Lifestyle Location near Riverview Prk, Hohojum Stadium, & ASU campus. This is one 'Fall in Love' Cool Home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Main

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: West Main

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7801567

* 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
Westwood High School High Regular 3,131 145 4

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

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,125
Property Tax -$158
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$189

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$304,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

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 $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$43,384

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
  • $1,757

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,5954$1,9455$1,995
$1,995
RENT COMPS ANALYSIS
  • 301 N Ironwood -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 332 N Dobson Road #4 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1974
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 2123 W 1st Place Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1958
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 1543 W 2nd Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.06
    •  
  • 1810 W 5th Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1957
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.12
    •  
PROPERTY LISTING DETAILS
Patti Wells
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170676
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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