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5542 E Boise Street Mesa, AZ 85205

2 Beds 2 Baths 1,144 sqft Built 1960

$229,900

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $200.96
  • 3 Days on Market
  • MLS # : 6162646
  • Updated Date : 11/20/2020 at 15:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,144 sqft
  • Baths : 2 full
Listing Agent

Canam Realty Group

Listing Agent's Description

Welcome Home!!! This 2 Bedroom 2 Bath home at Dreamland villa is a 55+ community. This home is in a great location, close to Restaurants, Shopping, Hospital, golf course, and both the 60 & 202 freeways. This community has so much to offer, they are very involved with there residents. Offering... Book club, Pickle Ball, Bocce Ball, Art Room, Woodshop, Singles Club, Ceramics, Fused Glass, Line Dancing, Ladies Golf League, etc.... This home has ALL NEW Flooring, Baseboards, Crown Molding White Cabinets, Gorgeous Granite Counter Tops, Range, Dishwasher, Doors, Windows, and A/C. The RV parking has 30 amp service with sewer and water hookup. This house is a Gem and a MUST SEE!!!

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Red Mountain High School High Regular 3,347 145 7

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

Red Mountain High School

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

$206,910$252,890$229,900

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$848
Property Tax -$135
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$82

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.

$229,900

PROJECTED PRICE

$1,050

PROJECTED RENT

0.46%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,135

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$925
1$9252$1,0503$1,0954$1,1755$1,200
$1,200
RENT COMPS ANALYSIS
  • 5542 E Boise Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 1960 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.92
    •  
  • 131 N Higley Road #113 Mesa, AZ 1
    • 2 beds 2 baths ∙ 900 Sqft ∙ Built 1964 2 beds 2 baths ∙ 900 Sqft ∙ Built 1964
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $1.03
    •  
  • 5239 E Boise Street Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1963 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1963
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.94
    •  
  • 5409 E Butte Street Mesa, AZ 4
    • 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.03
    •  
  • 319 N 61st Way Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Rick Metcalfe
Canam Realty Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162646
Last Updated: 11/20/2020
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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