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535 E Draper Street Mesa, AZ 85203

5 Beds 2 Baths 2,887 sqft Built 1973

$465,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $161.07
  • 2 Days on Market
  • MLS # : 6211134
  • Updated Date : 03/27/2021 at 07:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,887 sqft
  • Baths : 2 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Looking for a unique home with lots of character - look no further! This property is located in a very desirable Mesa neighborhood. Featuring 5 bedrooms, 2 bathrooms, designated office w/separate exit & partial basement that would make a great man-cave, home gym or whatever you desire. Kitchen open to family room w/fireplace & breakfast nook. Separate living room & dining room w/built-in buffet. New (11/2020) 9' sliding glass door + 3 picture windows open to a huge backyard, great for entertaining family & friends. It boasts 3/4 acre, large covered patio, sparkling pool w/mesh removable fence, child's playset conveys, artificial turf & 4 fruit trees. New HVAC 6/2020, SS appliances 8/2020, mesh pool fence 9/2018, see doc tab for complete list of updates. Don't miss this one of a kind home!

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PRICE & RENT TRENDS

Neighborhood: Fillmore Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $83k355k

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

Neighborhood: Fillmore Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8621966

* 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
Kino Junior High School Middle Regular 1,020 49 3
Westwood High School High Regular 3,131 145 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,615
Property Tax -$241
Property Insurance -$83
Property Management Fees -$99
CASH FLOW
-$39

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.

$465,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.2%
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$1.0M$1.2M$1.4M$1.6M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$24,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,978

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9253$2,000
$2,000
RENT COMPS ANALYSIS
  • 535 E Draper Street Mesa, AZ 3
    • 5 beds 2 baths ∙ 2,887 Sqft ∙ Built 1973 5 beds 2 baths ∙ 2,887 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 1550 N Stapley Drive #133 Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1978
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 1057 E Halifax Street Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1982
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.73
    •  
PROPERTY LISTING DETAILS
Kristine B. Lahman
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6211134
Last Updated: 03/27/2021
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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