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5808 E Brown Road #49 Mesa, AZ 85205

3 Beds 3 Baths 1,280 sqft Built 1995

$230,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $179.69
  • 2 Days on Market
  • MLS # : 6167993
  • Updated Date : 12/05/2020 at 18:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

This is the one you've been waiting for! Beautiful townhouse in Cortina Vista within the highly sought after community of Alta Mesa. Newly updated kitchen with Corian countertops, backsplash, microwave, range, dishwasher, and refrigerator. The master bath has been updated and there is fresh paint throughout. The downstairs floors have wood look tile plank. The home has been well cared for which means all you need to do is move-in. The community is professionally maintained and it's near shopping, restaurants and entertainment.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alta Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k286k

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

Neighborhood: Alta Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21050110011501200125013001350140014501500155016001650Rent in $10181662

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$849
Property Tax -$119
Property Insurance -$52
HOA -$173
Property Management Fees -$99
CASH FLOW
$78

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.

$230,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.9%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$22,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,370

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,3253$1,3704$1,4005$1,425
$1,425
RENT COMPS ANALYSIS
  • 5808 E Brown Road #49 Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.07
    •  
  • 5136 E Evergreen Street #1072 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1986
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.10
    •  
  • 1055 N Recker Road #1021 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1987
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.01
    •  
  • 5808 E Brown Road #43 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1997
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
  • 1055 N Recker Road #1279 Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1986
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.08
    •  
PROPERTY LISTING DETAILS
Lisa A Dixon
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167993
Last Updated: 12/05/2020
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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