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654 Leisure World -- Mesa, AZ 85206

3 Beds 2 Baths 1,728 sqft Built 1977

$299,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $173.55
  • 6 Days on Market
  • MLS # : 6171415
  • Updated Date : 12/19/2020 at 14:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 2 full
Listing Agent

Re/max Classic

Listing Agent's Description

You are going to love this completely remodeled home in the heart of Leisure World. You are within walking distance to the Rec 1 facility with most of the activities. You are also steps away from the walking paths around the lakes of Leisure World. This 3 bedroom home has a beautiful, large, and open kitchen that is perfect for entertaining. The huge living room has a vaulted ceiling that makes it feel even bigger. The garage is amazing with plenty of room for storage and all your toys. It is over 530sf. The lot is one of the largest in Leisure World. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, and much more.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,107
Property Tax -$177
Property Insurance -$61
HOA -$479
Property Management Fees -$99
CASH FLOW
-$132

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.

$299,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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$900k

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,749

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
  • $1,680

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,6754$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 654 Leisure World -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1893 Leisure World -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 7160 E Lindner Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1995
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.00
    •  
  • 5440 E Drummer Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
  • 6942 E Exmoor Drive Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Daniel Callahan
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171415
Last Updated: 12/19/2020
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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