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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $226.99
- 2 Days on Market
- MLS # : 6187839
- Updated Date : 01/30/2021 at 19:17
CONSTRUCTION
- Beds : 3
- Floor Size : 1,608 sqft
- Baths : 2 full
Listing Agent
Berkshire Hathaway Homeservices Arizona Properties
Listing Agent's Description
One-level 3BR home is in beautifully maintained Highland Park in Mesa's Citrus Corridor. Covered entrance welcomes you to this popular split floor plan with no homes behind for more privacy. This is a particularly attractive NO HOA community with a newer & more upscale feel. Cozy family room w/fireplace is open to the kitchen. 2 full baths have dual sinks. Separate living room can be used for an office, home schooling, or just relaxing. RV gate for RV parking, boat, & trailer. Enjoy plenty of storage: big walk-in pantry, master walk-in closet, garage w/ built-in shelves & bench, + storage shed stays. Big private back yard has covered patio & is ready for you to add your own design for entertaining all year long. Neighbors enjoy the nearby canal walking/biking path. 1 block to elementary...
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PRICE & RENT TRENDS
Neighborhood: The Groves
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Groves
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$1,268 |
| Property Tax | -$189 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$165
|
||
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.
$365,000
PROJECTED PRICE
$1,450
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.35% |
| Appreciation Year (1-5) | 5.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.24% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$102,475
LOAN DETAILS
$1,268
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $91,250 |
| Loan Amount | $273,750 |
3.42
YEARS SAVED
$10,517
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,636
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
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3140 E Downing Street Mesa, AZ 1
- 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1991
- Rent
- Rent Per SQFT
- $0
- $0.00
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2848 E Brown Road #33 Mesa, AZ 2
- 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1986
LEASED 01/07/21- Rent
- Rent Per SQFT
- $1,350
- $1.00
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2528 E Contessa Street Mesa, AZ 3
- 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1994
LEASED 08/14/20- Rent
- Rent Per SQFT
- $1,425
- $0.96
-
2711 E Des Moines Street Mesa, AZ 4
- 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984
LEASED 08/21/20- Rent
- Rent Per SQFT
- $1,750
- $1.06
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2848 E Brown Road #27 Mesa, AZ 5
- 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1985
LEASED 11/20/20- Rent
- Rent Per SQFT
- $1,799
- $1.05
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservices Arizona Properties
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6187839
Last Updated: 01/30/2021
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.
