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731 N Young -- Mesa, AZ 85203

3 Beds 2 Baths 1,616 sqft Built 1968

$355,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $219.68
  • 2 Days on Market
  • MLS # : 6184740
  • Updated Date : 01/22/2021 at 23:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,616 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this newly updated home in Palm Gardens of Mesa! NEW ROOF AND NEW A/C!! This home has been refreshed with new interior and exterior paint, new luxury vinyl plank flooring and new carpet in the bedrooms. The kitchen features new Quartz countertops and subway tile backsplash, and new stainless steel appliances. The primary bedroom has an ensuite bathroom with a walk in shower. The backyard boasts a covered patio and newly updated pool. GREAT location near LOTS of Shopping & Dining. Also near, neighborhood parks, TONS of golf, LOTS of hiking and biking trails, and easy freeway access. Vacant and ready for viewing, come see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* 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
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,233
Property Tax -$184
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$185

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.

$355,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.39%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,777

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,398

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4994$1,6505$1,697
$1,697
RENT COMPS ANALYSIS
  • 731 N Young -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.86
    •  
  • 1240 N Freestone Circle Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 1538 E Clover -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1963
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.82
    •  
  • 1921 E Des Moines Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 2531 E Glencove Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1971
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,697
    • $0.86
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184740
Last Updated: 01/22/2021
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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