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707 E University Drive Mesa, AZ 85203

4 Beds 2 Baths 2,158 sqft Built 1948

$340,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $157.55
  • 5 Days on Market
  • MLS # : 6198348
  • Updated Date : 02/25/2021 at 21:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,158 sqft
  • Baths : 2 full
Listing Agent

Superlative Realty

Listing Agent's Description

This sale includes the property with a 1948 brick home and the lot next to it giving you 17,565 sq. ft. Home has an added kitchen, livingroom, bedroom area which could serve as a rental area. This area is zoned for multi-family homes so with .403 acres this propety could have a variety of uses. Many homes on the street behind have been renovated as historic homes. The electric gate in front of the property works with a key fob and conveys with the sale. Home is being sold in as-is condition.

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PRICE & RENT TRENDS

Neighborhood: Pioneer Protectors

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $77k271k

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

Neighborhood: Pioneer Protectors

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7541567

* 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
Kino Junior High School Middle Regular 1,020 49 3
Westwood High School High Regular 3,131 145 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,181
Property Tax -$176
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
$194

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$39,237

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
  • $1,899

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4993$1,6954$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 707 E University Drive Mesa, AZ 1
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1948 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1538 E Clover -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963
    property image
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.82
    •  
  • 1903 E Jarvis Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 61 S Temple Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 1262 E 2nd Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 1958
    property image
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
PROPERTY LISTING DETAILS
Beverley Margerum
Superlative Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198348
Last Updated: 02/25/2021
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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