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3060 N Ridgecrest -- #126 Mesa, AZ 85207

3 Beds 3 Baths 2,370 sqft Built 1997

$721,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $304.22
  • 1 Days on Market
  • MLS # : 6263788
  • Updated Date : 07/13/2021 at 17:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,370 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Mesa one-story home offers a patio, granite countertops, and a three-car garage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k477k

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

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10342434

* 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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Red Mountain High School

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

$648,900$793,100$721,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$2,504
Property Tax -$374
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$791

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.

$721,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$196,815

INVESTMENT

$196,815

Down Payment
$180,250
Rehab Estimate
$5,750
Closing Costs
$10,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,504

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $180,250
Loan Amount $540,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,323

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
  • $2,512

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,2004$2,5005$2,695
$2,695
RENT COMPS ANALYSIS
  • 3060 N Ridgecrest -- #126 Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2951 N 72nd Street Mesa, AZ 2
    • 3 beds 4 baths ∙ 2,041 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,041 Sqft ∙ Built 2017
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 3060 Ridgecrest -- #204 Mesa, AZ 3
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
  • 3060 N Ridgecrest Drive #204 Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997
    LEASED 07/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.12
    •  
  • 3055 N Red Mountain -- #153 Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1996
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jacqueline Moore
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6263788
Last Updated: 07/13/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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