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759 N Balboa -- Mesa, AZ 85205

5 Beds 3 Baths 2,753 sqft Built 1985

INVESTimate

$350,000

List Price

$2,030

$1,827 - $2,233

Rent Est.

$364,210  ( +4.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $127.13
  • 2 Days on Market
  • MLS # : 6122525
  • Updated Date : 08/25/2020 at 20:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,753 sqft
  • Baths : 3 full
Listing Agent

Best Move Real Estate

Listing Agent's Description

Diamond in the rough!! Great corner lot home, no HOA, RV Parking and tons of potential! If you are looking for something to renovate this is the place for you! With 5 bedrooms, 3 baths and a bonus room you will have plenty of room for work and play. There are two separate living areas and a good size kitchen, perfect for entertaining. Easy access to shopping, dining, and major freeways. Don't miss out on this opportunity!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stoneybrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k306k

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

Neighborhood: Stoneybrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Red Mountain High School High Regular 3,347 145 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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,291
Property Tax -$182
Property Insurance -$81
Property Management Fees -$99
CASH FLOW
$377

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.

$350,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.06%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$70,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,413

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,1503$2,6004$2,600
$2,600
RENT COMPS ANALYSIS
  • 759 N Balboa -- Mesa, 1
    • 5 beds 3 baths ∙ 2,753 Sqft ∙ Built 1985 5 beds 3 baths ∙ 2,753 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.74
    •  
  • 962 N Saffron -- Mesa, 2
    • 6 beds 2 baths ∙ 2,770 Sqft ∙ Built 1987 6 beds 2 baths ∙ 2,770 Sqft ∙ Built 1987
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.78
    •  
  • 4347 E Fox Circle Mesa, 3
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2000
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
  • 4133 E Elmwood Street Mesa, 4
    • 5 beds 3 baths ∙ 2,567 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,567 Sqft ∙ Built 1995
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Nikki Janulewicz
Best Move Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122525
Last Updated: 08/25/2020
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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