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624 N Santa Barbara -- #1 Mesa, AZ 85201

2 Beds 2 Baths 936 sqft Built 1979

$205,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $219.02
  • 2 Days on Market
  • MLS # : 6167511
  • Updated Date : 12/04/2020 at 18:17
CONSTRUCTION
  • Beds : 2
  • Floor Size : 936 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Amazing location across from Cubs spring training stadium. 2 bed, 2 bath single story Town home in Mesa for sale. Den with closet. Spacious living room with high ceilings. Nice eat in kitchen with appliances.. Minutes away from 101 Freeway, Cubs stadium, and Tempe Marketplace. This one wont last long.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mesa Grande

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Mesa Grande

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Curry Elementary School Primary Regular 560 34 3
Connolly Middle School Middle Regular 1,058 57 6
Mcclintock High School High Regular 1,771 81 6

Curry Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 34
3
GreatSchools Rating

Connolly Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 57
6
GreatSchools Rating

Mcclintock High School

  • Education Level: High
  • # of students: 1,771
  • # of teachers: 81
6
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$756
Property Tax -$81
Property Insurance -$45
HOA -$207
Property Management Fees -$99
CASH FLOW
-$19

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.

$205,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,068

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,161

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1953$1,2004$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 624 N Santa Barbara -- #1 Mesa, AZ 1
    • 2 beds 2 baths ∙ 936 Sqft ∙ Built 1979 2 beds 2 baths ∙ 936 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 540 N May Street #2142 Mesa, AZ 2
    • 2 beds 2 baths ∙ 988 Sqft ∙ Built 1982 2 beds 2 baths ∙ 988 Sqft ∙ Built 1982
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.21
    •  
  • 633 N May Street #15 Mesa, AZ 3
    • 2 beds 2 baths ∙ 936 Sqft ∙ Built 1979 2 beds 2 baths ∙ 936 Sqft ∙ Built 1979
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.28
    •  
  • 540 N May -- #3097 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1980
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.21
    •  
  • 540 N May -- #1110 Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1980
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.26
    •  
PROPERTY LISTING DETAILS
Cindy Freitas
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167511
Last Updated: 12/04/2020
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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