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3061 S Date -- Mesa, AZ 85210

3 Beds 2 Baths 1,402 sqft Built 1979

INVESTimate

$299,000

List Price

$1,330

$1,197 - $1,463

Rent Est.

$323,369  ( +8.15%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1979
  • Price/Sqft : $213.27
  • 9 Days on Market
  • MLS # : 6119148
  • Updated Date : 08/19/2020 at 15:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Prime Time Properties Inc

Listing Agent's Description

Great investment opportunity w tenant in place! Priced to move! Rv gate, large mature lot w endless potential.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Dobson High School High Regular 2,639 122 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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,103
Property Tax -$155
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$82

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.

$299,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.15%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,423

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3303$1,3504$1,4505$1,525
$1,525
RENT COMPS ANALYSIS
  • 3061 S Date -- Mesa, 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.95
    •  
  • 3303 N Sunridge Lane Chandler, 1
    • 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1983
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.05
    •  
  • 2834 S Extension Road #1022 Mesa, 3
    • 3 beds 3 baths ∙ 1,303 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,303 Sqft ∙ Built 1984
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 920 W Straford Drive Chandler, 4
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1980
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 3134 S Extension Road Mesa, 5
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1979
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.95
    •  
PROPERTY LISTING DETAILS
Hector Felix
Prime Time Properties Inc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119148
Last Updated: 08/19/2020
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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