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427 N 55th Place Mesa, AZ 85205

2 Beds 2 Baths 1,187 sqft Built 1962

$240,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $202.19
  • 5 Days on Market
  • MLS # : 6200939
  • Updated Date : 03/06/2021 at 04:52
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,187 sqft
  • Baths : 2 full
Listing Agent

Realty East, Incorporated

Listing Agent's Description

Cozy 2 bedroom home with Arizona Room/Den - Neutral colors - Laminate flooring in Living Room - Tile in Kitchen and bathrrooms - Large Laundry Room with plenty of Storage - Covered Patio in Backyard, Tuff Shed -Fruit trees - 55 Plus Community with ammenities

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

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

$216,000$264,000$240,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$834
Property Tax -$141
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
$56

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.

$240,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$19,152

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
  • $1,279

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1753$1,2504$1,3955$1,495
$1,495
RENT COMPS ANALYSIS
  • 427 N 55th Place Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1962 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5409 E Butte Street Mesa, AZ 2
    • 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.03
    •  
  • 5478 E Albany Street Mesa, AZ 3
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 5350 E Des Moines Street Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 1966 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 1966
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.10
    •  
  • 5416 E Decatur Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,313 Sqft ∙ Built 1964 2 beds 2 baths ∙ 1,313 Sqft ∙ Built 1964
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.14
    •  
PROPERTY LISTING DETAILS
Mary Thompson
Realty East, Incorporated
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200939
Last Updated: 03/06/2021
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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