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PROPERTY INFO
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!
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PRICE & RENT TRENDS
Neighborhood: Fountain of the Sun
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fountain of the Sun
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,950
LOAN DETAILS
$1,033
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $70,000 |
| Loan Amount | $210,000 |
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
-
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
Right One Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6175985
Last Updated: 01/01/2021
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.
