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5830 E Mckellips Road #88 Mesa, AZ 85215

2 Beds 2 Baths 1,698 sqft Built 1997

$324,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $191.34
  • 4 Days on Market
  • MLS # : 6159428
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,698 sqft
  • Baths : 2 full
Listing Agent

America One Luxury Real Estate

Listing Agent's Description

Welcome home! Highly desirable Apache Wells 2 gated community conveniently located & packed with amenities! This is the largest and most desirable Model C floorplan featuring an open functional floorplan w/ large split bedrooms & a DEN! Your new home has a premium lot backing to the community clubhouse, pool & spa! Updates include, new roof in 2016, water softener in 2017, newer kitchen appliances & gas range double oven, plus more! The reasonable HOA includes a ton of amenities such as; cable tv, water & trash, exterior maintenance, clubhouse, heated pool/spa, fitness center, landscaping, roof repair/replacement, gated privacy, & more! 55+ adult community.

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
 

$292,410$357,390$324,900

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 -$1,199
Property Tax -$169
Property Insurance -$60
HOA -$325
Property Management Fees -$99
CASH FLOW
-$382

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.

$324,900

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$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$425

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
  • $0.87

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3903$1,4504$1,4705$1,550
$1,550
RENT COMPS ANALYSIS
  • 5830 E Mckellips Road #88 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,698 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,698 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.87
    •  
  • 2639 N Olympic Circle Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 2459 N Augusta Drive Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,576 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,576 Sqft ∙ Built 1978
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.88
    •  
  • 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
    property image
    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
    property image
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jonathan Michael Leaman
America One Luxury Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159428
Last Updated: 11/13/2020
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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