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$489,000

Sold
1353 W Kiowa Ave, Mesa, AZ 85202
4 Beds
3 Baths
2,651 Square Feet
0.23 Acres Lot
Built in 1979
Sold
Units n/a
Checked: 11 hours ago
Updated: Jul 09, 2025 at 07:06AM

Investment Summary


Monthly Cash Flow
-$141
Cap Rate
5.3%
Cash-on-Cash Return
-1.5%
Debt Coverage Ratio
0.94
Internal Rate of Return (5 years)
2.5%

Property Description


0.23 Acres Lot
Built in 1979
Sold
Units n/a

Stunning designer remodel in the desirable community of Dobson Ranch. Nothing like it on the market! Full remodel is complete with high-end finishes while preserving the character of the home. This 4bed/2.5bath features a grand vaulted ceiling entry and herringbone wood look tile throughout the first floor. Kitchen is complete with new cabinets, ss appliances, and beautiful extended matte granite. Custom lighting and finish details throughout. Ideal layout with all 4 beds and 2 baths on 2nd floor. Oversized WOW factor master suite with custom wood vanity and designer select tile and fixtures. Step outside into your entertainers oasis backyard space complete with glistening pool, built in grill station, and custom corn hole run!

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Location


Property Details


Parking

  • Description: Electric Door Opener, RV Gate
  • Details: Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 4

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Block
  • Roof Material: Composition
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: Dobson Ranch HOA
  • HOA Fee: $138/quarterly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 30507237
  • Lot Size: 9853 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Spanish
  • Year Built: 1979

Tax Information

  • Annual Tax: $2,355

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air

Location

  • County: Maricopa

Listing Details


Listed by:
Mary Spitzer
My Home Group Real Estate
(480) 298-6542

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6132967
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$141
Cap Rate
5.3%
Cash-on-Cash Return
-1.5%
Debt Coverage Ratio
0.94
Internal Rate of Return (5 years)
2.5%

Purchase Details

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Purchase price:
$489,000
Amount financed:
-$391,200
Down payment:
$97,800
Closing costs:
$14,670
Rehab costs:
$0
Initial cash invested:
$112,470
Square feet:
2,651
Cost per square foot:
$184
Monthly rent per square foot:
$1.32

Financing Details

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Loan amount:
$391,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,314
Property tax:
$196
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,755

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$196-$2,355
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (1%)
1%-$46-$552
Total operating expenses: (32%)
32%-$1,117-$13,407

Cash Flow


Monthly Yearly
Net operating income:
$2,173 $26,076
Mortgage payments:
-$2,314 -$27,768
Cash flow:
$141 $1,692