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PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $154.15
- 6 Days on Market
- MLS # : 6172086
- Updated Date : 12/26/2020 at 15:13
CONSTRUCTION
- Beds : 2
- Floor Size : 1,784 sqft
- Baths : 2 full
Listing Agent
Exp Realty
Listing Agent's Description
Another great home in Fountain of the Sun Active Adult Community! Open and bright. Split 2 bedroom plan plus bonus room with closet could be used as a 3rd bedroom. Formal living room plus large family room. Spacious kitchen with ample storage and tile countertops. Energy efficient dual pane windows. Enjoy the shade of the large covered patio as you listen to the soothing sound of the backyard waterfall. New roof (2018), New water heater (2020), New 5 ton AC (2016). Water softener. Extra wide driveway with addition of pavers. Fountain of the Sun is a 55+ community offering all the amenities you could desire including heated pool & spa, activity center, billiards, crafts, horseshoes, shuffleboard, fitness center, countless scheduled activities, golf course & on-site restaurant open daily.
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PRICE & RENT TRENDS
Neighborhood: Fountain of the Sun
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fountain of the Sun
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,550 |
| EXPENSES | Loan Payment | -$1,015 |
| Property Tax | -$143 | |
| Property Insurance | -$62 | |
| HOA | -$30 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$202
|
||
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.
$275,000
PROJECTED PRICE
$1,550
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,625
LOAN DETAILS
$1,015
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
9.5
YEARS SAVED
$42,820
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,739
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
8264 E Emelita Avenue Mesa, AZ 1
- 2 beds 2 baths ∙ 1,784 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,784 Sqft ∙ Built 1978
- Rent
- Rent Per SQFT
- $0
- $0.00
-
8241 E Medina Avenue Mesa, AZ 2
- 2 beds 2 baths ∙ 1,658 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,658 Sqft ∙ Built 1993
LEASED 08/01/19- Rent
- Rent Per SQFT
- $1,500
- $0.90
-
6836 E Flossmoor Avenue Mesa, AZ 3
- 2 beds 2 baths ∙ 1,478 Sqft ∙ Built 1969 2 beds 2 baths ∙ 1,478 Sqft ∙ Built 1969
LEASED 07/23/19- Rent
- Rent Per SQFT
- $1,550
- $1.05
PROPERTY LISTING DETAILS
Exp Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6172086
Last Updated: 12/26/2020
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.
