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401 N 111th Way Mesa, AZ 85207

3 Beds 2 Baths 1,403 sqft Built 2003

$325,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $231.65
  • 4 Days on Market
  • MLS # : 6196103
  • Updated Date : 02/19/2021 at 19:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,403 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This nice 3 bedroom 2 bath home is beautiful. The living area is large & bright with tile and wood flooring. The kitchen is spacious offering a great amount of cabinetry & work space, breakfast area. This room opens to the laundry area. The auxiliary bedrooms are large with nice closets. The master bedroom is a dream with wood-like floors, separate exit to the back patio, large walk-in closet, and a nice master bath. Out back you will find a covered patio, & large side yard which opens to the covered RV area and 450 SQFT workshop. The workshop is spacious offering abundant storage, has electric, and is located next to a utility sink.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85207

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Zip Code: 85207

ZipNIR 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
Smith Junior High School Middle Regular 988 51 6
Skyline High School High Regular 2,567 121 5

Smith Junior High School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 51
6
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,129
Property Tax -$171
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$113

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.

$325,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,340

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3753$1,4504$1,4805$1,495
$1,495
RENT COMPS ANALYSIS
  • 401 N 111th Way Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.96
    •  
  • 11239 E Camino Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.88
    •  
  • 147 S 111th Place Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2001
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 11547 E Decatur Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.94
    •  
  • 10816 E Boston Street Apache Junction, AZ 5
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2003
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
PROPERTY LISTING DETAILS
Anthony R Fortuna
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196103
Last Updated: 02/19/2021
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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