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763 S Fontana -- Mesa, AZ 85204

3 Beds 2 Baths 1,785 sqft Built 1982

$350,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $196.08
  • 3 Days on Market
  • MLS # : 6202822
  • Updated Date : 03/06/2021 at 16:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,785 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Large corner lot across from the park. This 3 bedroom 2 bath home has been owned by the same owners for 36 years. Master bedroom has private bath with a shower and vanity. Home owners added an additional room that can be used as family room/bonus room/game room. Kitchen has newer electric glass cooktop stove, newer built in micro, and dishwasher. Lots of cabinets plus walk in pantry and direct entry to garage. Inside laundry room (washer/dryer will not convey) with direct entry to garage. Huge pool needs TLC. It has been drained for a little over a year. Pump, filter and heater did work prior to sellers draining. RV gate and RV parking plus 2 car garage. Roof was replaced in 2000, HVAC in 2009 and water heater in 2011. Home is being sold AS-IS. Professional photos to uploaded on 3/6

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meadowgreen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k271k

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

Neighborhood: Meadowgreen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9091567

* 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
Taylor Junior High School Middle Regular 1,152 64 3
Mesa High School High Regular 3,406 155 4

Taylor Junior High School

  • Education Level: Middle
  • # of students: 1,152
  • # of teachers: 64
3
GreatSchools Rating

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,216
Property Tax -$182
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$88

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

$1,470

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,780

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
  • $1,830

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7003$1,7034$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 763 S Fontana -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2747 E Dragoon Circle Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2002
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 2954 E Garnet Circle Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1981
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,703
    • $1.01
    •  
  • 3017 E Hampton Circle Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1983
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 3117 E Enid Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1982
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Carolyn J Long
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202822
Last Updated: 03/06/2021
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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