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802 S Portland -- Mesa, AZ 85206

2 Beds 2 Baths 1,850 sqft Built 1984

$309,950

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $167.54
  • 2 Days on Market
  • MLS # : 6190773
  • Updated Date : 02/06/2021 at 16:22
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,850 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Newly remodeled and move-in ready 600 Model with 2 bedrooms and 2 full baths. New paint inside and out, carpeting, overlayed concrete flooring, new window blinds, appliances, custom made concrete countertops with tile backsplashes, new laundry room sink with tile backsplash. All new sinks, faucets, hardware, lighting, ceiling fans, and the list goes on. Covered front porch area faces east for shady afternoons. Block wall rear yard with landscaping.Full roll down security screens! Located one street over from HOA amenities and the golf course. Home comes with washer/dryer and commercial deep freeze. Sunland Village is a 55+ community. Buyer pays HOA Common Maintenance Fee of $1300 (On time). Seller has paid the HOA Fees for 2021. Home has a two year roof cert. HVAC approx 3 1/2 years old.

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PRICE & RENT TRENDS

Neighborhood: Sunland Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Sunland Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
 

$278,955$340,945$309,950

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,077
Property Tax -$211
Property Insurance -$63
HOA -$4
Property Management Fees -$99
CASH FLOW
$86

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$309,950

PROJECTED PRICE

$1,540

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,887

INVESTMENT

$87,887

Down Payment
$77,488
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,488
Loan Amount $232,463
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$25,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4503$1,540
$1,540
RENT COMPS ANALYSIS
  • 802 S Portland -- Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,850 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,850 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.83
    •  
  • 4202 E Broadway Road #3 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 440 S Val Vista Drive #81 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,502 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,502 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Bryan D Sparks
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190773
Last Updated: 02/06/2021
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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