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763 E Hale Street Mesa, AZ 85203

3 Beds 2 Baths 1,158 sqft Built 1982

$318,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $274.61
  • 2 Days on Market
  • MLS # : 6157730
  • Updated Date : 11/07/2020 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,158 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Mesa one-story cul-de-sac home offers a patio, and a one-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Park of the Canals

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k271k

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

Neighborhood: Park of the Canals

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9581567

* 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
Westwood High School High Regular 3,131 145 4

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

Westwood High School

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

$286,200$349,800$318,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$1,173
Property Tax -$165
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$387

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.

$318,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.2%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$844

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
  • $1,034

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1503$1,2954$1,399
$1,399
RENT COMPS ANALYSIS
  • 763 E Hale Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 222 W Brown Road #82 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.86
    •  
  • 630 E Jensen Street #179 Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1984
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 127 E Indigo Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.94
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157730
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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