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3422 N Sea Pines -- Mesa, AZ 85215

3 Beds 2 Baths 1,399 sqft Built 1992

$369,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $264.40
  • 4 Days on Market
  • MLS # : 6205749
  • Updated Date : 03/11/2021 at 19:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,399 sqft
  • Baths : 1 full , 1 half
Listing Agent

Campbell Realty Advisors

Listing Agent's Description

Great 3 bedroom 2 bath home in a highly sought after area with NO HOA. Nice open floor plan with good sized back yard. 2 car garage and low maintenance landscaping.

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PRICE & RENT TRENDS

Neighborhood: Summit

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Neighborhood: Summit

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

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

$332,910$406,890$369,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,285
Property Tax -$192
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$270

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.

$369,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.37%

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$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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,462

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,493

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3603$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 3422 N Sea Pines -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.97
    •  
  • 6641 E Rollins Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2003
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 6647 E Roland Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 6054 E Roland Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1998
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 6728 E Rosedale Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Mark Mcgrew
Campbell Realty Advisors
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205749
Last Updated: 03/11/2021
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.

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