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350 W Mclellan Road #12 Mesa, AZ 85201

3 Beds 2 Baths 2,658 sqft Built 1981

$474,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $178.67
  • 2 Days on Market
  • MLS # : 6205363
  • Updated Date : 03/14/2021 at 01:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,658 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Come see this beautiful remodeled home in Mesa near Mesa Riverview and Cubs Spring Training Facility! Very rare to see this low price per sqft for a full remodel! Spacious open floorplan with vaulted ceilings, exposed beams, large kitchen with new countertops and appliances, walk-in pantry, remodeled master bathroom, huge master bedroom with his and hers closets, large secondary bedrooms with walk-in closets, home office, wet bar and 3 car garage. New flooring throughout, quartz countertops, new bathroom vanities, new electrical and plumbing fixtures, fresh interior paint. This floorplan has everything you need! Home is part of a 12-home community with shared courtyard and pool, like having your own private park in your backyard!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Country Club Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k286k

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

Neighborhood: Country Club Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8622109

* 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
Carson Junior High School Middle Regular 992 55 3
Westwood High School High Regular 3,131 145 4

Carson Junior High School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 55
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$427,410$522,390$474,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,650
Property Tax -$246
Property Insurance -$79
HOA -$300
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 15% of earned rent to cover both maintenance and periods of vacancy.

$474,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.6%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,171

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,0003$2,0704$2,195
$2,195
RENT COMPS ANALYSIS
  • 350 W Mclellan Road #12 Mesa, AZ 3
    • 3 beds 2 baths ∙ 2,658 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,658 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.78
    •  
  • 1057 E Halifax Street Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1982
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.73
    •  
  • 1758 N Nevada Way Mesa, AZ 2
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1986
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 303 E Gary Circle Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,525 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,525 Sqft ∙ Built 1984
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
PROPERTY LISTING DETAILS
Christopher Shearer
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205363
Last Updated: 03/14/2021
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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