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3060 N Ridgecrest #149 Mesa, AZ 85207

4 Beds 3 Baths 2,732 sqft Built 1998

$500,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $183.02
  • 3 Days on Market
  • MLS # : 6155385
  • Updated Date : 01/16/2021 at 16:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,732 sqft
  • Baths : 3 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Stunning golf course location*Mountain views, breathtaking sunsets, city light views*In award winning Master Planned Community of Las Sendas in Mesa Foothills*Minutes to fine dining, shopping, hiking, kayaking, biking, riding, boating, airports*Las Sendas has heated pools, playground, trails, tennis, pickle ball, parks, community events*4 bedrooms , 3 baths, one bedroom/bath downstairs, kitchen, family room with fireplace, living and dining rooms, covered patio and view balcony with access from master bedroom*Pool and Spa*Property Sold As Is*Price reflects age of the home ***NO showings before January 17th***Reviewing all contracts, 6 PM January 22nd, contract must have response time by January 23rd***Call LA with questions

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
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
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,737
Property Tax -$259
Property Insurance -$80
HOA -$40
Property Management Fees -$99
CASH FLOW
$234

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.

$500,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$50,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,561

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,4503$2,4504$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 3060 N Ridgecrest #149 -- #149 Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.90
    •  
  • 2944 N Athena -- Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2018
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 3060 N Ridgecrest -- #76 Mesa, AZ 2
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1997
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.90
    •  
  • 3741 N Ladera Circle Mesa, AZ 4
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2001
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
  • 3630 N Canyon Wash Circle Mesa, AZ 5
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2000
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Janice Hourihan
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155385
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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