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965 N Wedgewood Drive Mesa, AZ 85203

4 Beds 2 Baths 1,898 sqft Built 1968

$349,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $183.88
  • 3 Days on Market
  • MLS # : 6199588
  • Updated Date : 02/28/2021 at 02:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,898 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

You're Home! Nestled a mile from Spring Training Baseball. Walking distance to school. Step into a wonderfully open living room & family room and then make your way to a kitchen two tone cabinetry & quartz countertops w/ waterfall edge! Relax in your master suite complete with roomy bathroom w/ walk in shower new shaker vanity & Mirror. Enjoy a warm summer night or a brisk peaceful early morning on your covered back patio overlooking your grass backyard! NO HOA. Upgrades: Luxury Vinyl Plank Flooring, SS Stove, Hood vent, all lighting, Carpet, NEW WINDOWS W/ 10-YEAR WARRANTY, Block wall, Gravel, Concrete Paint, Farmhouse sink, Wand Faucet, Shaker Vanities, Mirrors, Toilets, all faucets, interior and exterior paint, Kitchen Aid SS dishwasher, two toned cabinets. MOVE IN REMODEL!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Kino Junior High School Middle Regular 1,020 49 3
Westwood High School High Regular 3,131 145 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,212
Property Tax -$181
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
$94

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.

$349,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$30,524

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,6503$1,6994$1,7005$1,950
$1,950
RENT COMPS ANALYSIS
  • 965 N Wedgewood Drive Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 1240 N Freestone Circle Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 1726 N Summer Circle Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1983
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.93
    •  
  • 956 E 9th Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1526 E Fountain Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Lisa Wunder
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199588
Last Updated: 02/28/2021
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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