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321 S Del Rancho -- Mesa, AZ 85208

3 Beds 2 Baths 1,579 sqft Built 1998

$299,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $189.93
  • 2 Days on Market
  • MLS # : 6157541
  • Updated Date : 11/07/2020 at 22:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,579 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Perfect place to start! Here is THE home in East Mesa to begin your journey! Stay in the action with the family room and kitchen/dining all open! Step outdoors to sit and have your morning coffee on your covered patio with views of the Sun rising over the Superstition Mountains. The Primary Bedroom is nestled in the rear of the home with ensuite and step in closet. The secondary bedrooms just down the hall! Let's see how you can make this home your very own!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Signal Butte Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $107k358k

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

Neighborhood: Signal Butte Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10151981

* 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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,107
Property Tax -$188
Property Insurance -$58
HOA -$57
Property Management Fees -$99
CASH FLOW
-$178

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.

$299,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,676

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,4903$1,4954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 321 S Del Rancho -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.84
    •  
  • 10630 E Bramble Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1998
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.87
    •  
  • 10653 E Florian Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1998
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 10065 E Capri Avenue Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 10129 E Carmel Avenue Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2000
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
PROPERTY LISTING DETAILS
Belinda G Gray
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157541
Last Updated: 11/07/2020
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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