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560 S Olive -- Mesa, AZ 85204

2 Beds 1 Baths 775 sqft Built 1952

$199,000

List Price

$930

$837 - $1K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $256.77
  • 7 Days on Market
  • MLS # : 6174844
  • Updated Date : 12/27/2020 at 21:41
CONSTRUCTION
  • Beds : 2
  • Floor Size : 775 sqft
  • Baths : 1 full
Listing Agent

Prosperity Asset Marketing Llc

Listing Agent's Description

This little home has a new bathroom, and is neat and clean. It is rented on a month to month basis.Great starter home or investment home. It has a car port that could be used as an expansion. Tenant Rights. Please make your offer subject to inspection,

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Watertower

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Watertower

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7721567

* 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
Mesa High School High Regular 3,406 155 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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$837$1,023$930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $930
EXPENSES Loan Payment -$734
Property Tax -$103
Property Insurance -$42
Property Management Fees -$99
CASH FLOW
-$49

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.

$199,000

PROJECTED PRICE

$930

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.8%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,546

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
  • $779

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7253$975
$975
RENT COMPS ANALYSIS
  • 560 S Olive -- Mesa, AZ 1
    • 2 beds 1 baths ∙ 775 Sqft ∙ Built 1952 2 beds 1 baths ∙ 775 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 322 S Allen -- Mesa, AZ 2
    • 2 beds 1 baths ∙ 741 Sqft ∙ Built 1963 2 beds 1 baths ∙ 741 Sqft ∙ Built 1963
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $725
    • $0.98
    •  
  • 1310 S Pima -- #48 Mesa, AZ 3
    • 2 beds 2 baths ∙ 945 Sqft ∙ Built 1964 2 beds 2 baths ∙ 945 Sqft ∙ Built 1964
    property image
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $1.03
    •  
PROPERTY LISTING DETAILS
Martin T Raml
Prosperity Asset Marketing Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174844
Last Updated: 12/27/2020
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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