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

342 N 77th Place Mesa, AZ 85207

3 Beds 2 Baths 1,432 sqft Built 2004

$320,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $223.46
  • 2 Days on Market
  • MLS # : 6197130
  • Updated Date : 02/20/2021 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,432 sqft
  • Baths : 1 full , 1 half
Listing Agent

Denman Realty Group, L.l.c

Listing Agent's Description

Beautiful Tuscan-Style home located in Cecina Gated Community in East Mesa. This quaint home has 3 bedrooms with 1 3/4 Baths, the 3rd bedroom could be used as a Office/Den. 2 Garage spaces with gated courtyard off to the side. Community Pool & Play area is a quick walk down the street. Close to airports, shopping, and many outdoor recreational activities.

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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,111
Property Tax -$166
Property Insurance -$55
HOA -$88
Property Management Fees -$99
CASH FLOW
-$210

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.

$320,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$200k$400k$600k$800k

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,325

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3253$1,3954$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 342 N 77th Place Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.91
    •  
  • 536 N 82nd Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1993
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.00
    •  
  • 216 N 76th Place Mesa, AZ 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
    •  
  • 6710 E University Drive #152 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 7640 E Barstow Street Mesa, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kadee Bird
Denman Realty Group, L.l.c
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6197130
Last Updated: 02/20/2021
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