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616 S 76th Place Mesa, AZ 85208

2 Beds 2 Baths 1,294 sqft Built 1987

$280,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $216.38
  • 4 Days on Market
  • MLS # : 6175985
  • Updated Date : 01/01/2021 at 00:59
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,294 sqft
  • Baths : 2 full
Listing Agent

Right One Realty

Listing Agent's Description

Popular split floor-plan model in the 55+ community of Fountain of the Sun, with a private Pool & Hot Tub! Tile Flooring in all the right places. Mostly furnished 2 Bedroom, 2 Bathroom with large Den Addition & Additional Covered Patio. Built-In Pool, with 1 year new Hot Tub. Roll-up Sun Shades on both sides of the patio. Built-In BBQ Grill. All located in the highly desirable Active Adult 55+ Community of Fountain of the Sun with Golf Course, on location restaurant, 24 Hour Guard Gated Security, Club House, Pool, Pickle Ball Courts & Much More... This property won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $96k271k

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

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9811567

* 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
Fremont Junior High School High Regular 976 48 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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,033
Property Tax -$175
Property Insurance -$52
HOA -$7
Property Management Fees -$99
CASH FLOW
-$147

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.

$280,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
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

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,071

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9503$1,1004$1,1005$1,220
$1,220
RENT COMPS ANALYSIS
  • 616 S 76th Place Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.94
    •  
  • 8103 E Southern Avenue #319 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 8103 E Southern Avenue #311 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1983
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 228 S 72nd Place Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,249 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,249 Sqft ∙ Built 1973
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
  • 1043 S Florence Drive Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,294 Sqft ∙ Built 1979
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jeffrey Meyer
Right One Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175985
Last Updated: 01/01/2021
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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