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340 N 79th Place Mesa, AZ 85207

3 Beds 2 Baths 1,642 sqft Built 2017

INVESTimate

$345,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$367,391  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $210.11
  • 8 Days on Market
  • MLS # : 6119406
  • Updated Date : 08/22/2020 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,642 sqft
  • Baths : 2 full
Listing Agent

Prosmart Realty

Listing Agent's Description

Gorgeous single level home in Gated Community. New Full Solar System purchased this year, and is owned outright with no loan or lease! Fully transferable warranty on solar system! Gorgeous upgrades throughout entire home! Built in 2017, the original owner has taken meticulous care of this property! This home shows just like a new home! The owner has spared no expense, and it shows with the attention to detail!!! This is a great community with a beautiful community pool, and multiple lush green park areas throughout the community! Do not wait to schedule your tour! This home will not last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k322k

* 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,273
Property Tax -$179
Property Insurance -$59
HOA -$94
Property Management Fees -$99
CASH FLOW
-$304

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.

$345,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,622

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
  • $1,502

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2953$1,3954$1,5505$1,800
$1,800
RENT COMPS ANALYSIS
  • 340 N 79th Place Mesa, 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 125 N Sunvalley Boulevard #114 Mesa, 2
    • 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 2017
    LEASED 03/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 216 N 76th Place Mesa, 3
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 7640 E Barstow Street Mesa, 4
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 8111 E Encanto Street Mesa, 5
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jeremiah J Hancock
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119406
Last Updated: 08/22/2020
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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