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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $217.73
- 2 Days on Market
- MLS # : 6197021
- Updated Date : 02/20/2021 at 16:40
CONSTRUCTION
- Beds : 3
- Floor Size : 2,200 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Alliance Group
Listing Agent's Description
Lovely 3 Bedroom/ 2.5 Bath, 3 CAR GARAGE in the very POPULAR Mesa Desert Heights Community! Beautiful Neighborhood! NO HOA! NEW Interior Paint, NEW Exterior Paint, NEW Baseboards, and NEW CARPETING. Formal Living Room,Family Room & Dining Room. The eat-in kitchen has oak cabinets, wall mount microwave & oven, Breakfast bar, and a walk-in pantry. Powder room off main living area. Generous sized bedrooms with a Jack and Jill Bath/Setup. The Master Bedroom has a FULL BATH! Huge backyard has a LARGE covered patio and nice lawn area. Walking Distance to Dining and Shopping! Minutes to Five Golf Courses! Minutes to the 202 Freeway Close to the Tonto National Forest and Close to many Hiking and Mountain Biking Trails! This One Won't LAST LONG
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PRICE & RENT TRENDS
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$1,664 |
| Property Tax | -$249 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$151
|
||
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.
$479,000
PROJECTED PRICE
$1,930
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,685
LOAN DETAILS
$1,664
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $119,750 |
| Loan Amount | $359,250 |
4.08
YEARS SAVED
$17,926
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,250
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
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6423 E Star Valley Street Mesa, AZ 2
- 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 1993
LEASED 02/15/21- Rent
- Rent Per SQFT
- $1,945
- $0.96
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2946 N 71st Place Mesa, AZ 3
- 3 beds 4 baths ∙ 2,087 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,087 Sqft ∙ Built 2016
LEASED 07/03/20- Rent
- Rent Per SQFT
- $2,098
- $1.01
-
2963 N Sonoran Hills -- Mesa, AZ 4
- 3 beds 4 baths ∙ 2,037 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,037 Sqft ∙ Built 2017
LEASED 08/15/20- Rent
- Rent Per SQFT
- $2,100
- $1.03
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6638 E Melrose Street Mesa, AZ 5
- 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1994
LEASED 09/01/20- Rent
- Rent Per SQFT
- $2,550
- $1.09
PROPERTY LISTING DETAILS
Re/max Alliance Group
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6197021
Last Updated: 02/20/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
