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921 W University Drive #1095 Mesa, AZ 85201

2 Beds 2 Baths 956 sqft Built 1989

$209,900

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $219.56
  • 4 Days on Market
  • MLS # : 6178024
  • Updated Date : 01/08/2021 at 23:06
CONSTRUCTION
  • Beds : 2
  • Floor Size : 956 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Gorgeous remodeled townhome in a quiet complex in a perfect location. Home is great for entertaining with an open floor plan, high vaulted ceilings and a cozy fireplace. Open kitchen is gorgeous with stainless appliances and white cabinets. Inside laundry with washer and dryer included. Backyard with patio and turf is perfect for enjoying AZ weather and BBQing. New A/C with Nest thermostat was installed in 2019. Covered parking included right at front of the home. You will also love the sparkling community pool. Only minutes from Spring Training, Light-Rail, Tempe MarketPlace, shopping, ASU, and easy access to Highways 101. 202 and US60.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Main

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: West Main

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7801567

* 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
 

$188,910$230,890$209,900

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$729
Property Tax -$109
Property Insurance -$46
HOA -$210
Property Management Fees -$99
CASH FLOW
-$93

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.

$209,900

PROJECTED PRICE

$1,100

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$4,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,133

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$899
1$8992$1,1003$1,1904$1,1955$1,200
$1,200
RENT COMPS ANALYSIS
  • 921 W University Drive #1095 Mesa, AZ 2
    • 2 beds 2 baths ∙ 956 Sqft ∙ Built 1989 2 beds 2 baths ∙ 956 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.15
    •  
  • 737 W 1st Avenue #201 Mesa, AZ 1
    • 2 beds 2 baths ∙ 816 Sqft ∙ Built 1984 2 beds 2 baths ∙ 816 Sqft ∙ Built 1984
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $899
    • $1.10
    •  
  • 921 W University Drive #1032 Mesa, AZ 3
    • 2 beds 2 baths ∙ 956 Sqft ∙ Built 1987 2 beds 2 baths ∙ 956 Sqft ∙ Built 1987
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $1.24
    •  
  • 921 W University Drive #1201 Mesa, AZ 4
    • 2 beds 3 baths ∙ 1,046 Sqft ∙ Built 1986 2 beds 3 baths ∙ 1,046 Sqft ∙ Built 1986
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.14
    •  
  • 921 W University Dale #1080 Mesa, AZ 5
    • 2 beds 2 baths ∙ 956 Sqft ∙ Built 1990 2 beds 2 baths ∙ 956 Sqft ∙ Built 1990
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.26
    •  
PROPERTY LISTING DETAILS
Anne Hillyard
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178024
Last Updated: 01/08/2021
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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