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331 N Williams -- Mesa, AZ 85203

3 Beds 2 Baths 1,642 sqft Built 1961

$330,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $200.97
  • 5 Days on Market
  • MLS # : 6159988
  • Updated Date : 11/18/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,642 sqft
  • Baths : 2 full
Listing Agent

Tru Realty

Listing Agent's Description

Fabulous remodeled home with additional room off the Master Bedroom (Office/Den/Mancave, Nursery or???).Let the day melt away in your expanded Master Shower or just relax on the back patio under the Pergola. If you are more into projects this home has a private work shop to tinker on your favorite hobby. Home has been transformed into a modern marvel but still has some of that 1960's ranch charm. This home isn't just about looks, AC (Updated and Upgraded, Window unit available for Work Shop), Water Heater (New), Ceiling Fans (every room). Attic Insulation (Upgraded). Windows (New). See ''Items Updated'' for more info. Must See-Call to schedule a viewing.

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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$1,218
Property Tax -$171
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$267

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.

$330,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.39%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,412

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3953$1,4994$1,4995$1,650
$1,650
RENT COMPS ANALYSIS
  • 331 N Williams -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.78
    •  
  • 451 S Ridge -- Mesa, AZ 2
    • 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 3
    • 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 4
    • 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
David E James
Tru Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159988
Last Updated: 11/18/2020
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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