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317 N 102nd Place Mesa, AZ 85207

3 Beds 2 Baths 1,540 sqft Built 2015

$315,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $204.55
  • 5 Days on Market
  • MLS # : 6152368
  • Updated Date : 10/29/2020 at 20:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Arizona Elite Properties

Listing Agent's Description

Welcome home to this beautiful 3 bedroom 2 bath well cared for home in Mesa! Original owner since it was built in 2015. Interior is very open and inviting. The bright open kitchen is comprised of upgraded cabinets, ample space for a kitchen table and chairs and a lovely breakfast bar. The stunning master bedroom boasts sitting area, a private bath and a spacious walk-in closet. The backyard includes a coovered patio for entertaining and a shaded dog run with turf for your fur baby. Low maintenance front and back yards. Steps away from the green grassy community park with shaded gazebo's, a charcoal grill and a fenced dog park. This home wont last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: University Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: University Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Skyline High School High Regular 2,567 121 5

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

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,162
Property Tax -$197
Property Insurance -$57
HOA -$50
Property Management Fees -$99
CASH FLOW
-$115

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.

$315,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5504$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 317 N 102nd Place Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 341 N 103rd Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 2000
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
  • 542 N Canfield -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2002
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 10618 E Bogart Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 10636 E Bramble Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1998
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kim Franken
Arizona Elite Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152368
Last Updated: 10/29/2020
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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