Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

64 N 63rd Street #62 Mesa, AZ 85205

2 Beds 2 Baths 1,275 sqft Built 1999

$249,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $196.00
  • 2 Days on Market
  • MLS # : 6157834
  • Updated Date : 11/07/2020 at 17:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,275 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Single level N/S facing 2 bedroom/2 bath - great room concept. Just repainted interior- new interior brush nickel hinges + door handles. Tile floors t/o all the right places, and new carpet just installed in both bedrooms. New ceiling fan in the Great room. utility sink in the laundry room. 2-C garage, covered patio w/ low maintenance landscaping. A/C replaced in 2020!! Save some of your valuable time and see this one 1st.

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
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
 

$224,910$274,890$249,900

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 -$922
Property Tax -$156
Property Insurance -$52
HOA -$108
Property Management Fees -$99
CASH FLOW
-$117

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.

$249,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.49%

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-$4.0k-$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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,807

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
  • $1,259

    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 #62 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,275 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,275 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
Jay Culton
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157834
Last Updated: 11/07/2020
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.

BESbswy