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652 N Palo Verde -- Mesa, AZ 85207

3 Beds 2 Baths 1,532 sqft Built 1996

$330,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $215.40
  • 3 Days on Market
  • MLS # : 6178354
  • Updated Date : 01/09/2021 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,532 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Great find in a great neighborhood. Superstition Mountain views on an oversized lot! RV parking and gate with NO HOA! Come see this three bedroom two bath home with an open kitchen to family room, separate formal living area.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k322k

* 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,146
Property Tax -$206
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$61

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.

$330,000

PROJECTED PRICE

$1,570

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$25,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3253$1,5704$1,5995$1,800
$1,800
RENT COMPS ANALYSIS
  • 652 N Palo Verde -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.02
    •  
  • 714 N 66th Place Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1997
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.02
    •  
  • 536 N 82nd Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1993
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.00
    •  
  • 8064 E Fox Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1993
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.14
    •  
  • 8111 E Encanto Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Julie J Tate
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178354
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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