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901 Leisure World -- Mesa, AZ 85206

2 Beds 2 Baths 1,504 sqft Built 1979

$260,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $172.87
  • 2 Days on Market
  • MLS # : 6179103
  • Updated Date : 01/09/2021 at 19:09
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,504 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Classic

Listing Agent's Description

Check out this lovely 2 bed 2 bath home with 2 car garage in Leisure World, a 45+ Active Adult Community. The home is bright, light has a large eat in kitchen. Large pantry area in kitchen with stacked washer & dryer. Vaulted ceiling in living room for that open feeling. Enjoy the enlarged back north facting patio. Extra area off kitchen could make a great office or den. Garage has a workshop built in as well as a sink. There is so much to do in Leisure World, 3 pools, 2 hot tubs, large fitness center, pickle ball, tennis, 2 private 18 hole golf courses, work shop, billiards and so much more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k273k

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

Neighborhood: Leisure World

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10031567

* 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
Madison Elementary School Primary Regular 480 27 5
Fremont Junior High School Middle Regular 976 48 7
Fremont Junior High School High Regular 976 48 7

Madison Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 27
5
GreatSchools Rating

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$903
Property Tax -$153
Property Insurance -$57
HOA -$290
Property Management Fees -$99
CASH FLOW
$18

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.

$260,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$13,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,5204$1,5255$1,525
$1,525
RENT COMPS ANALYSIS
  • 901 Leisure World -- Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,504 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,504 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.01
    •  
  • 6522 E Boston Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,577 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,577 Sqft ∙ Built 1978
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 306 Leisure World -- Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,408 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,408 Sqft ∙ Built 1974
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 964 Leisure World -- Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1978
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.99
    •  
  • 928 Leisure World -- Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,662 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,662 Sqft ∙ Built 1978
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
PROPERTY LISTING DETAILS
Suzanne Lorentzen
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179103
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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