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3046 N Doral -- Mesa, AZ 85215

3 Beds 2 Baths 1,881 sqft Built 1994

$364,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $193.99
  • 1 Days on Market
  • MLS # : 6157876
  • Updated Date : 11/07/2020 at 20:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,881 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

NO HOA!!!! HUGE LOT!!!! Walking distance from restaurants, shopping and entertainment. Pride in ownership at its finest. This beautiful split floor plan boasts nearly 1,900 sq ft, vaulted ceilings, dining room, living room and family room. The fabulous kitchen would make any chef jealous, with its ample cabinetry, granite countertops, tile backsplash, high-end appliances, and lovely breakfast bar. You'll love the stunning master bedroom with its walk-in closet, full bath with double sinks and separate tub and shower. The stunning backyard features a HUGE grass area and concrete pad for the kids to play and a large patio for the adults to lounge. Don't forget about the RV GATE to help store all your toys.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

* 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
Red Mountain High School High Regular 3,347 145 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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,346
Property Tax -$189
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
$1

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.

$364,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.47%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$28,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7004$1,7655$1,800
$1,800
RENT COMPS ANALYSIS
  • 3046 N Doral -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 6464 E Russell Street Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1993
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 6134 E Portia Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1994
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 6233 E Palm Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1994
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $1.03
    •  
  • 3013 N Papillon Circle Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1994
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jake D Kober
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157876
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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