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743 Leisure World -- Mesa, AZ 85206

2 Beds 2 Baths 1,893 sqft Built 1979

INVESTimate

$269,900

List Price

$1,380

$1,242 - $1,518

Rent Est.

$286,121  ( +6.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $142.58
  • 7 Days on Market
  • MLS # : 6120087
  • Updated Date : 08/22/2020 at 14:04
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,893 sqft
  • Baths : 2 full
Listing Agent

Re/max Classic

Listing Agent's Description

Welcome home!! What a great house and location near the main recreation center, but not too close. The open concept is perfect for entertaining. Your kitchen has been updated and a huge island has been added. There is plenty of space to store all your supplies and double ovens to cook in. The two large bedrooms each have their own walk in closets, and you have a large office or craft area off the great room. The back yard is nice and private and has a putting green to fine tune your golf game. Your home is in the lowest HOA fee area of the community. 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 so 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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$996
Property Tax -$159
Property Insurance -$64
HOA -$290
Property Management Fees -$99
CASH FLOW
-$228

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.

$269,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3804$1,3995$1,500
$1,500
RENT COMPS ANALYSIS
  • 743 Leisure World -- Mesa, 3
    • 2 beds 2 baths ∙ 1,893 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,893 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.73
    •  
  • 248 N 65th Place Mesa, 1
    • 2 beds 2 baths ∙ 1,601 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,601 Sqft ∙ Built 1980
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 6238 E Butte Street Mesa, 2
    • 2 beds 2 baths ∙ 1,780 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,780 Sqft ∙ Built 1971
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.76
    •  
  • 6528 E Barstow Street Mesa, 4
    • 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 1979
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
  • 195 Leisure World -- Mesa, 5
    • 2 beds 2 baths ∙ 2,026 Sqft ∙ Built 1974 2 beds 2 baths ∙ 2,026 Sqft ∙ Built 1974
    LEASED 03/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
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 #: 6120087
Last Updated: 08/22/2020
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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