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5830 E Mckellips Road #47 Mesa, AZ 85215

2 Beds 2 Baths 1,624 sqft Built 1997

$324,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $199.51
  • 4 Days on Market
  • MLS # : 6156223
  • Updated Date : 11/04/2020 at 17:47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,624 sqft
  • Baths : 2 full
Listing Agent

Delex Realty

Listing Agent's Description

Welcome to Apache Wells 2 a Gated Community that offer many amenities. This home is a much desire C elevation which offers a third room that could be used as a Office/Den or 3rd Bedroom. Home is located on the back street of the community for more privacy. Home has 2 Master bedrooms 2 bathroom, large family room with bay windows, new stainless steel appliances, new water softener, New AC, New paint, ceiling fan throughout, extended covered back patio with a welcoming back yard for your entertaining. Home has lot more to offer. A must come & see! Thank you for showing!

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
 

$291,600$356,400$324,000

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 -$1,195
Property Tax -$168
Property Insurance -$59
HOA -$325
Property Management Fees -$99
CASH FLOW
-$376

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.

$324,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.45%

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

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$91,610

INVESTMENT

$91,610

Down Payment
$81,000
Rehab Estimate
$5,750
Closing Costs
$4,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,000
Loan Amount $243,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$464

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
  • $0.91

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4453$1,4504$1,4705$1,550
$1,550
RENT COMPS ANALYSIS
  • 5830 E Mckellips Road #47 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,624 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,624 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.91
    •  
  • 2459 N Augusta Drive Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,576 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,576 Sqft ∙ Built 1978
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.88
    •  
  • 6262 E Nance Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.98
    •  
  • 5415 E Mckellips Road #103 Mesa, AZ 3
    • 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
    •  
  • 6202 E Mckellips Road #26 Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,587 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,587 Sqft ∙ Built 2007
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
PROPERTY LISTING DETAILS
Debbie Hill
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156223
Last Updated: 11/04/2020
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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