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748 S 78th Place Mesa, AZ 85208

3 Beds 2 Baths 1,835 sqft Built 1987

$335,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $182.56
  • 4 Days on Market
  • MLS # : 6156834
  • Updated Date : 11/07/2020 at 14:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Rare single level 3 bedroom home in Fountain Of The Sun! New Kitchen, New bathroom cabinets and granite counters, New Roof, New exterior paint, Newer carpet and newly coated front and back patio's. East facing gated patio to enjoy the beautiful sunrise. Solar tubes(3), , cabinets in the garage, Partially furnished, shutters on all the windows, private backyard fenced and three citrus trees (Orange, Lemon, and Grapefruit). Enjoy the Country Club & Golf Community offering a lake, billiards, golf course, post office, you name it we have it here! Lots of planned activities, pickle ball, yoga, arts & crafts, card room, shuffleboard, etc...and Birdie's restaurant opened daily.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $96k271k

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

Neighborhood: Fountain of the Sun

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9811567

* 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,236
Property Tax -$209
Property Insurance -$63
HOA -$28
Property Management Fees -$99
CASH FLOW
-$145

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.

$335,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,218

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
  • $1,596

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4003$1,4254$1,4505$1,595
$1,595
RENT COMPS ANALYSIS
  • 748 S 78th Place Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 451 S Hawes Road #21 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 451 S Hawes Road #80 Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2007
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.83
    •  
  • 7903 E Gale Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 153 N Greenwood Street Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2003
    property image
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mary Newton
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156834
Last Updated: 11/07/2020
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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