Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

320 S 70th Street #9 Mesa, AZ 85208

2 Beds 2 Baths 1,433 sqft Built 1999

$270,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $188.42
  • 3 Days on Market
  • MLS # : 6174222
  • Updated Date : 01/01/2021 at 18:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,433 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Enjoy AZ living in this quiet, gated 55+ community. Spacious floor plan has vaulted ceilings, shutters and wood plank tile flooring throughout. Kitchen features upgraded cabinets, granite countertops and solar tube. Bathrooms updated including bidet in master. 2nd bdrm has pocket door to guest bath. HOA maintains front yard. Heated community pool/spa. Close to stores, hospital, park and freeways.

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Fremont Junior High School High Regular 976 48 7

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

Fremont Junior High School

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

$243,000$297,000$270,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$996
Property Tax -$169
Property Insurance -$55
HOA -$125
Property Management Fees -$99
CASH FLOW
-$194

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.

$270,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,250

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,2994$1,3505$1,399
$1,399
RENT COMPS ANALYSIS
  • 320 S 70th Street #9 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,433 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,433 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 205 N 74th Street #202 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2001
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 6710 E University Drive #159 Mesa, AZ 3
    • 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.89
    •  
  • 248 N 65th Place Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,601 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,601 Sqft ∙ Built 1980
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 6528 E Barstow Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 1979
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
PROPERTY LISTING DETAILS
Cindy J Nelson
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174222
Last Updated: 01/01/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy