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5830 E Mckellips Road #148 Mesa, AZ 85215

2 Beds 2 Baths 1,296 sqft Built 1998

$314,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $242.28
  • 3 Days on Market
  • MLS # : 6157352
  • Updated Date : 11/06/2020 at 15:46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Highly sought after adult community in Mesa is now available for you! Wonderful townhouse provides everything you have been looking for. Starting with a delightful interior complete with 2 bed, 2 bath, vaulted ceilings, living/dining area, neutral color palette, and so much natural light that makes this place cozy and inviting. Practice your cooking skills in this impeccable kitchen offering everything you need; recessed lighting, high-end appliances ready to be used, breakfast bar, plenty cabinet space, and granite counter-tops. Unique master bedroom includes mirrored closet and spotless en-suite bathroom with dual sinks & walk-in closet. Out the back you have a patio where you can enjoy relaxing afternoons. You won't want to leave your piece of paradise. Start calling right now!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Wells

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k277k

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

Neighborhood: Apache Wells

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,159
Property Tax -$163
Property Insurance -$52
HOA -$325
Property Management Fees -$99
CASH FLOW
-$328

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.

$314,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.6%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,159

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,474

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2503$1,3954$1,4705$1,500
$1,500
RENT COMPS ANALYSIS
  • 5830 E Mckellips Road #148 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.13
    •  
  • 2432 N Augusta Drive Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.08
    •  
  • 2241 N Recker Road Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.09
    •  
  • 5445 E Mckellips Road #7 Mesa, AZ 3
    • 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
    •  
  • 6202 E Mckellips Road #40 Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,260 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,260 Sqft ∙ Built 2006
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kimberly Shallue
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157352
Last Updated: 11/06/2020
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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