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64 N 63rd Street #59 Mesa, AZ 85205

2 Beds 2 Baths 1,264 sqft Built 1999

$259,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $204.91
  • 1 Days on Market
  • MLS # : 6191093
  • Updated Date : 02/07/2021 at 04:07
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,264 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Fantastic split 2 bedroom, 2 bathroom home located on a corner lot in the gated Villas Tuscany. This home is an open floorplan with vaulted ceilings. Kitchen features all appliances. Private backyard has covered patio and extended concrete pad with citrus tree and landscaping. Community features a pool. Centrally located in Mesa, near shopping, dining, freeways, and so much more. Don't miss this home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$900
Property Tax -$162
Property Insurance -$52
HOA -$112
Property Management Fees -$99
CASH FLOW
-$84

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.

$259,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,298

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
  • $1,248

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1953$1,2994$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 64 N 63rd Street #59 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,264 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,264 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 64 N 63rd Street #47 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,123 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,123 Sqft ∙ Built 1996
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.06
    •  
  • 6710 E University Drive #159 Mesa, AZ 3
    • 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.89
    •  
  • 6710 E University Drive #142 Mesa, AZ 4
    • 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 6710 E University Drive #103 Mesa, AZ 5
    • 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michelle Mazzola
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191093
Last Updated: 02/07/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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