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PROPERTY INFO
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.
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PRICE & RENT TRENDS
Neighborhood: Desert Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Desert Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,060
LOAN DETAILS
$882
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,500 |
| Loan Amount | $190,500 |
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
-
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
S.j. Fowler Real Estate, Inc.
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6178662
Last Updated: 01/08/2021
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.
