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308 W 9th Place S Mesa, AZ 85201

3 Beds 3 Baths 1,191 sqft Built 1950

$339,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $284.63
  • 3 Days on Market
  • MLS # : 6176200
  • Updated Date : 01/02/2021 at 18:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,191 sqft
  • Baths : 2 full , 1 half
Listing Agent

Balboa Realty, Llc

Listing Agent's Description

WELCOME TO 308 W 9TH PL S MESA, ARIZONA LOCATED IN THE MUCH DESIRED NEIGHBORHOOD OF DUKE MANOR OFFERING 3 BEDROOMS, 2.5 BATHS, THIS 1950 RANCH STYLE HOME OFFERS YOU NEWLY RENOVATED MODERN LUXURY FINISHES. THE KITCHEN IS WELL APPOINTED WITH WHITE CABINETS, QUARTZ COUNTER TOPS, SUBWAY TILE BACKSPLASH. THE PRIMARY SUITE OFFERS YOU A SPA FEEL WITH A CLAWFOOT TUB AND SEPARATE WALK IN SHOWER. ENJOY THE HALL WAY BATHROOM WITH VIBRANT COLORS AND FINISHES. NEW LAMINATE FLOORING IN MAIN LIVING AREAS, NEW CARPET IN BEDROOMS & TILE IN BATHROOMS. INDOOR LAUNDRY ROOM. RELISH IN THE SCREENED IN ARIZONA ROOM. MATURE LANDSCAPING, IRRIGATED LOT, 2 STORAGE SHEDS, MULTIPLE OUTDOOR ENTERTAINMENT AREAS. CLOSE TO DOWNTOWN MESA ENTERTAINMENT DISTRICT, CHICAGO CUBS SPRING TRAINING, LIGHTRAIL, SHOPPING & FREEWAYS.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Duke Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Duke Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6851567

* 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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,251
Property Tax -$183
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$214

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.

$339,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.40%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,459

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3703$1,395
$1,395
RENT COMPS ANALYSIS
  • 308 W 9th Place S Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,191 Sqft ∙ Built 1950 3 beds 3 baths ∙ 1,191 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.15
    •  
  • 704 W 4th Place Mesa, AZ 1
    • 3 beds 1 baths ∙ 1,109 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,109 Sqft ∙ Built 1947
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.17
    •  
  • 612 N Lesueur Circle Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,088 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,088 Sqft ∙ Built 1968
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.28
    •  
PROPERTY LISTING DETAILS
Victor Noriega De La Riva
Balboa Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176200
Last Updated: 01/02/2021
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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