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320 S 70th Street #15 Mesa, AZ 85208

3 Beds 2 Baths 1,468 sqft Built 1999

$300,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $204.36
  • 3 Days on Market
  • MLS # : 6187212
  • Updated Date : 01/29/2021 at 15:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

IDEAL SINGLE LEVEL SPLIT FLOORPLAN in a desirable GATED 55+ community & MOVE-IN READY! Vaulted ceilings make this home OPEN & BRIGHT! Kitchen includes appliances & pantry. SPACIOUS master suite features dual sinks & walk-in closet w/built-ins. Ceiling fans t/o. Laundry w/utility sink & additional storage! Community amenities include a pool/spa & other social & exercise activities! Minutes from US60, Loop 202, restaurants, shopping & more! **Exclusive opportunity to save thousands on this purchase! Ask your agent for more details!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $94k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Fremont Junior High School Middle Regular 976 48 7
Skyline High School High Regular 2,567 121 5

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Skyline High School

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

$270,000$330,000$300,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,042
Property Tax -$188
Property Insurance -$56
HOA -$125
Property Management Fees -$99
CASH FLOW
-$239

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

$1,270

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,285

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3503$1,3954$1,3995$1,550
$1,550
RENT COMPS ANALYSIS
  • 320 S 70th Street #15 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.87
    •  
  • 6710 E University Drive #167 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 2005
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 6710 E University Drive #134 Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2004
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 6710 E University Drive #140 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,558 Sqft ∙ Built 2004
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.90
    •  
  • 7640 E Barstow Street Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Bill Olmstead
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187212
Last Updated: 01/29/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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