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3535 E Fairfield Circle Mesa, AZ 85213

6 Beds 4 Baths 3,885 sqft Built 1985

$675,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $173.75
  • 4 Days on Market
  • MLS # : 6172197
  • Updated Date : 12/17/2020 at 17:47
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,885 sqft
  • Baths : 4 full
Listing Agent

Realty One Group

Listing Agent's Description

As you turn East onto Fairfield Cir. in the sought out community of The Groves, you will see that this beautiful home sits above the rest. As you walk through the front door you are greeted with warmth and charm that will open up the imagination to create your own perfect home. You have 2 FULL bathrooms and guest room downstairs. Laundry room provides ample space for storage, small office potential with full bath and door leading right out to the pool! Backyard landscaped for entertaining, or quiet afternoons in the pool. Large RV gates swing open to allow space for your toys for outdoor adventuress. (Covered parking to protect from the weather too!!!) Large Primary Room upstairs that gives you ample space to get away and create your own oasis!!! *See documents for list of improvements

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Groves

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

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

Neighborhood: The Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181740

* 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
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

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

$607,500$742,500$675,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,490
Property Tax -$460
Property Insurance -$103
Property Management Fees -$99
CASH FLOW
-$592

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.

$675,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.0%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,875

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,7003$3,395
$3,395
RENT COMPS ANALYSIS
  • 3535 E Fairfield Circle Mesa, AZ 1
    • 6 beds 4 baths ∙ 3,885 Sqft ∙ Built 1985 6 beds 4 baths ∙ 3,885 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.66
    •  
  • 3930 E Fox Circle Mesa, AZ 2
    • 6 beds 5 baths ∙ 4,172 Sqft ∙ Built 1999 6 beds 5 baths ∙ 4,172 Sqft ∙ Built 1999
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.65
    •  
  • 3843 E Laurel Street Mesa, AZ 3
    • 5 beds 4 baths ∙ 4,100 Sqft ∙ Built 1994 5 beds 4 baths ∙ 4,100 Sqft ∙ Built 1994
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.83
    •  
PROPERTY LISTING DETAILS
Geoffrey Adams
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172197
Last Updated: 12/17/2020
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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