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315 N Harris Drive Mesa, AZ 85203

4 Beds 2 Baths 1,893 sqft Built 1958

$319,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $168.52
  • 1 Days on Market
  • MLS # : 6155046
  • Updated Date : 11/02/2020 at 21:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,893 sqft
  • Baths : 2 full
Listing Agent

Denman Realty Group, L.l.c

Listing Agent's Description

Great family Home with 4 bedrooms and 2 baths. Has large family room and large (300+ sq ft) AZ room, Fireplace,and sewing room/space, large den or office space. NO HOA Citrus trees Shed and Slab parking in backyard for boat or RV,Block fencing and large rolling gate.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert - Main Street

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Gilbert - Main Street

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7761567

* 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
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,177
Property Tax -$166
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
$24

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.

$319,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$26,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4993$1,4994$1,5305$1,650
$1,650
RENT COMPS ANALYSIS
  • 315 N Harris Drive Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.81
    •  
  • 451 S Ridge -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1962
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 2441 E Alpine Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.85
    •  
  • 1538 E Clover -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.82
    •  
  • 1921 E Des Moines Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Dale J. Sabin
Denman Realty Group, L.l.c
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155046
Last Updated: 11/02/2020
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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