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5415 E Mckellips Road #104 Mesa, AZ 85215

2 Beds 2 Baths 1,156 sqft Built 2002

$254,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $219.72
  • 3 Days on Market
  • MLS # : 6178662
  • Updated Date : 01/08/2021 at 19:47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,156 sqft
  • Baths : 2 full
Listing Agent

S.j. Fowler Real Estate, Inc.

Listing Agent's Description

Very large 2 Bed, 2 Bath town home on the Alta Mesa Golf Course located in the gated subdivision of Desert Springs at Alta Mesa. Community Pool, spa, park and club house that you have to see. There is a private side entry, one car garage, N/S Exposure. New stainless-steel refrigerator conveys with the property along with the washer and dryer. New hot water heater installed 2 years ago. Ceramic tile throughout. There is a tenant in place, lease expires 10/31/2021. All viewings are with appointments only.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $100k271k

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

Neighborhood: Desert Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9561567

* 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
Bush Elementary School Primary Regular 603 34 8
Bush Elementary School Middle Regular 603 34 8
Red Mountain High School High Regular 3,347 145 7

Bush Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 34
8
GreatSchools Rating

Bush Elementary School

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 34
8
GreatSchools Rating

Red Mountain High School

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

$228,600$279,400$254,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$882
Property Tax -$132
Property Insurance -$50
HOA -$248
Property Management Fees -$99
CASH FLOW
-$151

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.

$254,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,060

INVESTMENT

$73,060

Down Payment
$63,500
Rehab Estimate
$5,750
Closing Costs
$3,810

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,500
Loan Amount $190,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$3,715

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,257

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,2953$1,3754$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 5415 E Mckellips Road #104 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.09
    •  
  • 5450 E Mclellan Road #105 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,293 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,293 Sqft ∙ Built 2001
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.00
    •  
  • 5445 E Mckellips Road #47 Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1994
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.17
    •  
  • 5445 E Mckellips Road #7 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1993
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.19
    •  
  • 5415 E Mckellips Road #103 Mesa, AZ 5
    • 2 beds 3 baths ∙ 1,469 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,469 Sqft ∙ Built 2002
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
PROPERTY LISTING DETAILS
Laura A. Good
S.j. Fowler Real Estate, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178662
Last Updated: 01/08/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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