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604 N Recker Road Mesa, AZ 85205

2 Beds 2 Baths 1,376 sqft Built 1969

INVESTimate

$269,000

List Price

$1,180

$1,062 - $1,298

Rent Est.

$293,560  ( +9.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $195.49
  • 6 Days on Market
  • MLS # : 6120538
  • Updated Date : 08/21/2020 at 02:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,376 sqft
  • Baths : 1 full , 1 half
Listing Agent

Americas Real Estate Properties

Listing Agent's Description

THERE'S MORE THAN MEETS THE EYE IN THIS AMAZING WELL KEPT HOME. LET'S START WITH THE OPEN FLOOR PLAN WITH 2 ''EXTRA ROOMS'' FOR CRAFTS, SEWING, GRANDKIDS PLAYROOM,OR ENTERTAINING GUESTS. IN YOUR ''COOL'' KITCHEN, THERE'S A NEWER REFRIGERATOR ,EXHAUST FAN & A PASS THROUGH ''WINDOW''. IF YOU WANT STORAGE, YOU'LL FIND IT HERE. THERE'S ACTUALLY 2 COAT CLOSETS. SOME BLINDS ARE NEW & YOUR MASTER BEDROOM HAS SHUTTERS. YOU'LL FIND A ROOM OUTSIDE TOO WITH MORE SPACE TO ENTERTAIN. THERE'S A SEPARATE LAUNDRY ROOM & A LARGE STORAGE SHED. THE EASY CARE FENCED BACKYARD IS HUGE WITH A TANGELO & AN ARIZONA SWEET ORANGE TREE. YOU COULD ADD AN RV GATE TOO. THE DREAMLAND VILLA COMMUNITY IS IDEAL FOR ACTIVE 55+ADULTS WITH AN OPTIONAL MEMBERSHIP WITH POOLS,FITNESS CENTER, TENNIS & MANY MORE ACTIVITIES. NO HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$992
Property Tax -$159
Property Insurance -$54
HOA -$14
Property Management Fees -$99
CASH FLOW
-$138

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.

$269,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.13%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,297

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2003$1,2004$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 604 N Recker Road Mesa, 1
    • 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1969 2 beds 2 baths ∙ 1,376 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.86
    •  
  • 163 N 58th Street Mesa, 2
    • 2 beds 2 baths ∙ 1,328 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,328 Sqft ∙ Built 1971
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.90
    •  
  • 319 N 61st Way Mesa, 3
    • 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
  • 5712 E Des Moines Street Mesa, 4
    • 2 beds 2 baths ∙ 1,377 Sqft ∙ Built 1969 2 beds 2 baths ∙ 1,377 Sqft ∙ Built 1969
    LEASED 04/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 6043 E Duncan Street Mesa, 5
    • 2 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970
    LEASED 03/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
PROPERTY LISTING DETAILS
Sandy Giniel
Americas Real Estate Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120538
Last Updated: 08/21/2020
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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