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

3348 N Arco -- Mesa, AZ 85213

3 Beds 2 Baths 1,791 sqft Built 2017

$420,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $234.51
  • 2 Days on Market
  • MLS # : 6203592
  • Updated Date : 03/06/2021 at 19:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,791 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Located in the fabulous gated community of Lehi Crossing you will find this like new 3 bedroom plus den home. Shows like a model home and has all the coveted features you want like beautiful tile floors and an open design. The heart of the home has a large center island, perfect for gathering around and opens to the family room that boasts a gas fire place and lots of light. Granite counter tops and subway tile back-splash give this kitchen warmth and charm. The owners suite includes a large on suite with separate tub and shower and large walk in closet. Won't last.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lehi Crossing

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k329k

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

Neighborhood: Lehi Crossing

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181824

* 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
Stapley Junior High School Middle Regular 931 45 8
Mountain View High School High Regular 3,180 144 8

Stapley Junior High School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 45
8
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,459
Property Tax -$218
Property Insurance -$62
HOA -$81
Property Management Fees -$99
CASH FLOW
-$319

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.

$420,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.6%
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$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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$4,818

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4003$2,000
$2,000
RENT COMPS ANALYSIS
  • 3348 N Arco -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2111 N 30th Street Mesa, AZ 2
    • 4 beds 3 baths ∙ 1,552 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,552 Sqft ∙ Built 1998
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 3422 E Riverdale Street Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Karyn Nelsen
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203592
Last Updated: 03/06/2021
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.

BESbswy