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302 N Sycamore -- #7 Mesa, AZ 85201

3 Beds 2 Baths 1,170 sqft Built 1984

$198,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $169.23
  • 3 Days on Market
  • MLS # : 6160337
  • Updated Date : 11/14/2020 at 23:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,170 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Come and see this 3 Bedroom, 2 Bathroom Townhome in a super convenient location in Mesa today! This home has great bones with a nice sized kitchen that opens up into a dining area and great room with a beautiful brick fireplace! Split floorplan with a nice sized master with its own private bathroom and two separate guest bedrooms that share a guest bathroom. 2 car carport with direct entry to the home along with a locked storage room at the front of the home. Awesome backyard for the kids to play and enjoy our AZ weather! Beautiful Community Pool just steps away!The location is ideal - a short walk to the light rail and within minutes to ASU, Downtown Mesa, Sloan Park (Cubs Spring Training), Mesa Riverview. Easy access to the 101 and 202 freeways! Come and see it before its too late!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bentley Street

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $62k271k

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

Neighborhood: Bentley Street

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7931567

* 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
 

$178,200$217,800$198,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$731
Property Tax -$103
Property Insurance -$50
HOA -$144
Property Management Fees -$99
CASH FLOW
$84

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.

$198,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,220

INVESTMENT

$58,220

Down Payment
$49,500
Rehab Estimate
$5,750
Closing Costs
$2,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$731

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,500
Loan Amount $148,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$20,784

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
  • $1,343

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3504$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 302 N Sycamore -- #7 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2441 E 5th Street Tempe, AZ 2
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1982
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.10
    •  
  • 2429 E 7th Street Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1979
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.19
    •  
  • 2612 E Oakleaf Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.23
    •  
  • 540 N May -- #2130 Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1981
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
PROPERTY LISTING DETAILS
Adam Coburn
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160337
Last Updated: 11/14/2020
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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