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$405,000

Under Contract
1944 N Lazona Dr, Mesa, AZ 85203
3 Beds
3 Baths
1,409 Square Feet
0.09 Acres Lot
Built in 1999
Under Contract
Units n/a
Checked: 11 hours ago
Updated: Jul 10, 2025 at 04:25AM

Investment Summary


Monthly Cash Flow
-$578
Cap Rate
4.0%
Cash-on-Cash Return
-7.4%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.2%

Property Description


0.09 Acres Lot
Built in 1999
Under Contract
Units n/a

Want a beautifully maintained home nestled in a quiet, established neighborhood in the heart of Mesa? Look no further. This delightful home offers a perfect blend of comfort, character, and convenience. Step inside to find a light-filled interior with a functional layout and timeless finishes. Located just minutes from restaurants, parks, schools, shopping, and major freeways, this home combines peaceful suburban living with unbeatable access to everything Mesa has to offer. Don't miss your chance to make this gem your own!

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Location


Property Details


Parking

  • Description: Covered, Garage
  • Details: Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: Greens at Royal Palm
  • HOA Fee: $74/monthly

Land Information

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

Lot Information

  • Parcel ID: 13632149
  • Lot Size: 4045 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Territorial/Santa Fe
  • Year Built: 1999

Tax Information

  • Annual Tax: $1,254

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Maricopa

Listing Details


Listed by:
Amy J Keeling
My Home Group Real Estate
(480) 276-1674

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6856028
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$578
Cap Rate
4.0%
Cash-on-Cash Return
-7.4%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.2%

Purchase Details

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Purchase price:
$405,000
Amount financed:
-$324,000
Down payment:
$81,000
Closing costs:
$12,150
Rehab costs:
$0
Initial cash invested:
$93,150
Square feet:
1,409
Cost per square foot:
$287
Monthly rent per square foot:
$1.56

Financing Details

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Loan amount:
$324,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,917
Property tax:
$105
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,176

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$105-$1,254
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (3%)
3%-$74-$888
Total operating expenses: (33%)
33%-$729-$8,742

Cash Flow


Monthly Yearly
Net operating income:
$1,339 $16,068
Mortgage payments:
-$1,917 -$23,004
Cash flow:
$578 $6,936