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3719 E Inverness Avenue #54 Mesa, AZ 85206

3 Beds 3 Baths 1,371 sqft Built 1998

$299,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $218.75
  • 2 Days on Market
  • MLS # : 6173204
  • Updated Date : 12/19/2020 at 14:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,371 sqft
  • Baths : 2 full , 1 half
Listing Agent

Delex Realty

Listing Agent's Description

Remodeled in Sept 2014, popular floorplan with elegant soaring Ceilings. New carpet on stairs and upstairs bedrooms. 20'' tile t/o. Stainless appliances. Granite kitchen and bath counters with custom backsplash. Security Screen Door, Garage keypad and opener. Private gated backyard w/extended covered patio. Desert landscaping in front and grass backyard with sprinkle/drip/timer. Community pool with ideal location.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Concord Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $88k358k

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

Neighborhood: Concord Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9581981

* 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
Pioneer Elementary School Primary Regular 539 36 8
Pioneer Elementary School Middle Regular 539 36 8
Highland High School High Regular 3,065 123 8

Pioneer Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 36
8
GreatSchools Rating

Pioneer Elementary School

  • Education Level: Middle
  • # of students: 539
  • # of teachers: 36
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,107
Property Tax -$132
Property Insurance -$54
HOA -$75
Property Management Fees -$99
CASH FLOW
$4

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.

$299,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 9.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4703$1,4954$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 3719 E Inverness Avenue #54 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,371 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,371 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.07
    •  
  • 1811 S 39th Street #5 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1988
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
  • 3510 E Hampton Avenue #59 Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1993
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 3510 E Hampton Avenue #119 Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1986
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 3719 E Inverness Avenue #10 Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1998
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Gregory E. Dockter
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173204
Last Updated: 12/19/2020
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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