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4055 N Recker Road #89 Mesa, AZ 85215

4 Beds 3 Baths 2,871 sqft Built 1996

$675,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $235.11
  • 2 Days on Market
  • MLS # : 6165492
  • Updated Date : 11/28/2020 at 12:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,871 sqft
  • Baths : 3 full
Listing Agent

Stunning Homes Realty

Listing Agent's Description

Welcome to this fabulous house in Red Mountain Ranch! Home boasts 4 beds and 3 bathrooms with an open floor plan that welcomes entertaining. Come on in and don't forget to admire the new front landscaping, exterior paint and custom front door! Immediately you are greeted by the living, dining and kitchen that flow together. Go to the right where one bedroom is a guest suite with it's own exit to the backyard complete with it's own mini bar area! Oversized master with plantation shutters has backyard views for days! Secondary bedrooms are oversized as well. If you thought this home just looked pretty well you were mistaken, fresh interior and exterior paint, AC ducting sealed and upgraded AC unit, 3 AC units, new backyard landscape. There are too many things to mention, come see today!

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
 

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

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,490
Property Tax -$417
Property Insurance -$83
HOA -$19
Property Management Fees -$99
CASH FLOW
-$459

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.

$675,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.39%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$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 55% 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

2.25

YEARS SAVED

$11,942

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,842

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4503$2,6904$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 4055 N Recker Road #89 Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3060 N Ridgecrest -- #76 Mesa, AZ 2
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1997
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.90
    •  
  • 6052 E Virginia Street Mesa, AZ 3
    • 5 beds 4 baths ∙ 2,783 Sqft ∙ Built 1995 5 beds 4 baths ∙ 2,783 Sqft ∙ Built 1995
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.97
    •  
  • 7643 E Torrey Point Circle Mesa, AZ 4
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 2002
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.02
    •  
  • 3643 N Eagle Canyon -- Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1998
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.07
    •  
PROPERTY LISTING DETAILS
Matthew S. Potter
Stunning Homes Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165492
Last Updated: 11/28/2020
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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