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3124 N Olympic -- 
Mesa, AZ
85215
3 Beds 2 Baths 1,449 sqft
Built 1992
INVESTimate
$300,000
List Price
$85,250
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PROPERTY INFO
FACTS
- Built In 1992
- Price/Sqft : $207.04
- 2 Days on Market
- MLS # : 6122141
- Updated Date : 08/24/2020 at 19:06
CONSTRUCTION
- Beds : 3
- Floor Size : 1,449 sqft
- Baths : 2 full
Listing Agent
Mark Brower Properties, Llc
Listing Agent's Description
NO HOA !!! Outstanding single level property in desirable Mesa is waiting just for you. Offering great curb appeal and easy care desert front landscaping. Step inside to discover a remarkable open concept interior complete with 3 bed, 2 bath, beautiful chandelier in entry way, vaulted ceilings, so much natural light, living/dining area, and bay windows. Practice your cooking skills in this dreamy eat-in kitchen providing everything you need; island with sink & breakfast bar, honey oak cabinetry, track lighting, pantry, and upgraded stainless steel appliances. Double-door master suite has private exit, walk-in closet, and spotless full bath with dual sinks, separate tub, and step-in shower. Large backyard with extended covered patio is ready for your gatherings. Call now!
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PRICE & RENT TRENDS
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,470 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$156 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$53
|
||
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.
$300,000
PROJECTED PRICE
$1,470
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.35% |
| Appreciation Year (1-5) | 6.49% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.24% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
6.67
YEARS SAVED
$28,390
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,470
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$1,587
COMP ESTIMATED VALUE -
$1.1
COMP AVG. RENT PER SQFT
Comps Range
-
3124 N Olympic -- Mesa, 2
- 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1992
- Rent
- Rent Per SQFT
- $1,470
- $1.01
-
6640 E Russell Street Mesa, 1
- 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2000
LEASED 10/15/19- Rent
- Rent Per SQFT
- $1,450
- $1.10
-
6730 E Preston Street #48 Mesa, 3
- 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1997
LEASED 08/31/19- Rent
- Rent Per SQFT
- $1,495
- $1.16
-
6054 E Roland Street Mesa, 4
- 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1998
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,600
- $1.07
-
6119 E Sierra Morena Street Mesa, 5
- 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1996
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,675
- $1.05
PROPERTY LISTING DETAILS
Mark Brower Properties, Llc
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6122141
Last Updated: 08/24/2020
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.
