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302 N 79th Place Mesa, AZ 85207

3 Beds 2 Baths 1,480 sqft Built 2017

$340,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $229.73
  • 3 Days on Market
  • MLS # : 6167651
  • Updated Date : 12/04/2020 at 14:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Single lvl 3BR/2BA stunner built in 2017. Prime location in gated community near 202. Private, interior lot backs directly to greenbelt. Open floorplan w/9ft ceilings & split BRs. Master suite located at rear of home w/refreshing natural light and spacious walk-in closet. Barn door separates MBR & MBA. MBA feat. dual sinks, huge shower w/built-in bench, & sep toilet closet. Other 2 BRs located at front of home & separated by guest BA. Stylish kitchen feat large island, granite countertops, S/S appliances & cabinet hardware. Dbl door pantry & prewire for 3 pendant lights over island. Dining area is off kitchen w/extended bank of cabinets for added storage. Great room w/recessed lighting, ceiling fan & access to patio. Low maint desert backyard w/pavers fire pit. Community pool, playground.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k322k

* 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
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,254
Property Tax -$176
Property Insurance -$56
HOA -$94
Property Management Fees -$99
CASH FLOW
-$340

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.

$340,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.39%

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-$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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,432

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3953$1,5504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 302 N 79th Place Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.91
    •  
  • 216 N 76th Place Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 7640 E Barstow Street Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 7531 E Billings Street #145 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2020
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
  • 8111 E Encanto Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Michael Maddox
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167651
Last Updated: 12/04/2020
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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