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536 N Matlock Street Mesa, AZ 85203

3 Beds 2 Baths 1,942 sqft Built 1962

$349,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $179.71
  • 5 Days on Market
  • MLS # : 6164582
  • Updated Date : 11/24/2020 at 20:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,942 sqft
  • Baths : 2 full
Listing Agent

Homlinc

Listing Agent's Description

NO HOA! Beautiful newly remodeled home In a highly desirable area featuring Wood plank tile floor, New granite counters in kitchen and bathrooms, and super large yard for your family! Yard features mature Fig, orange, mandarin orange, and grapefruit trees. Irrigation available through SRP to keep your lawn lush and green. Full size laundry room and TONS of storage spaceHome is vacant and you can show anytime!

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
Westwood High School High Regular 3,131 145 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

Westwood High School

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

$314,100$383,900$349,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,288
Property Tax -$181
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
-$103

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.

$349,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,269

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
  • $1,694

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4993$1,6504$1,7005$1,950
$1,950
RENT COMPS ANALYSIS
  • 536 N Matlock Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1538 E Clover -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963
    property image
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.82
    •  
  • 1921 E Des Moines Street Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 956 E 9th Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1526 E Fountain Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Robert A Gomez
Homlinc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164582
Last Updated: 11/24/2020
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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