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4043 N Olympic Circle Mesa, AZ 85215

3 Beds 3 Baths 1,943 sqft Built 1988

$375,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $193.00
  • 2 Days on Market
  • MLS # : 6151316
  • Updated Date : 11/02/2020 at 13:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,943 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Pride of ownership shines through in this amazing Red Mountain Ranch home. The front door opens to vaulted ceilings, beautiful custom Oak stairway bannister and tons of natural light. Large Master on the main with a spa-like master bath, steam-shower, double vanity and walk-in closet. Two upstairs bedrooms, a large loft, and full bath with double vanity. Kitchen is fabulous for entertaining with an open layout to the living room. Granite countertops, stainless steel appliances, and an RO drinking water system. Guest bath off of the living room. Two car garage has built-in cabinets. Home sits at the end of a cul de sac, with no homes behind you. Relaxing courtyard in front of home with your very own koi pond!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Red Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $109k408k

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

Neighborhood: Red Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10342211

* 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
Red Mountain High School High Regular 3,347 145 7

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

Red Mountain High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,384
Property Tax -$189
Property Insurance -$65
HOA -$7
Property Management Fees -$99
CASH FLOW
$246

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.

$375,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$53,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,860

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8953$1,8954$1,8955$1,990
$1,990
RENT COMPS ANALYSIS
  • 4043 N Olympic Circle Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,943 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,943 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.02
    •  
  • 6464 E Russell Street Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1993
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 6015 E Sayan Circle Mesa, AZ 2
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1995
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 6044 E Sayan Circle Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 1994
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
  • 3625 N Katmai Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1996
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
PROPERTY LISTING DETAILS
Heather M Mahmood-corley
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6151316
Last Updated: 11/02/2020
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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