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4202 E Broadway Road #234 Mesa, AZ 85206

2 Beds 2 Baths 1,612 sqft Built 2004

$285,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $176.80
  • 2 Days on Market
  • MLS # : 6163332
  • Updated Date : 11/20/2020 at 18:49
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Attached patio home. CORNER lot in Gated 55+ Community of VERDE GROVES. MAJESTIC floor plan 2 bdrms, den, 2 bath rms, 2 car garage on community greenbelt. Extended patio with privacy wall surrounding rear yard. If you have a ''designers eye'' & can appreciate the bones of a home, then this may be the home for you as you overlook the current owners paint colors & carpet throughout the majority of the home, including the bathrooms. This could be the place you create as your very own! 'Lock & Leave'' style as the HOA fee includes: Blanket insurance policy, exterior roof maintenance, roof replacement, exterior termite warranty, pest control, common area maintenance, front & rear yard landscape, cable, water & trash. Near US 60 & Loop 202, hospitals, shopping, dining, golf and so much more

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Mesa High School High Regular 3,406 155 4

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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,052
Property Tax -$194
Property Insurance -$59
HOA -$300
Property Management Fees -$99
CASH FLOW
-$293

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.

$285,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3753$1,4104$1,450
$1,450
RENT COMPS ANALYSIS
  • 4202 E Broadway Road #234 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.87
    •  
  • 1350 S Greenfield Road #2073 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2008
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
  • 4202 E Broadway Road #3 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 440 S Val Vista Drive #81 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,502 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,502 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Crisanna Tutera
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163332
Last Updated: 11/20/2020
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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