Mesa condo sees peaks and valleys since its birth
I was just at 6601 E. University Drive #96 in Mesa doing a home inspection. This unit is a 3/2/2 1,176 sqft.
Wanted to tell you all the tale of its journey.
2003 build sold for $114,000
2005 sold for $217,000 Smart Seller, sold when market was HIGH
2010 sold for $89,000 Smart Buyer, bought when market was LOW
2021 selling for $310,000 Smart Seller? Maybe, let’s talk about it
The seller has owned the condo for 11 years. It’s comp rents today are $1,895/month. I estimate his PITI payment to be $519/month. That’s a rough cash flow of $1,376/month. After 11 years, it is possible that he has it almost paid off. What would you do? Sell at the high right now or keep forever as income?
That question can only be answered by your personal DNA and your personal situation. This seller is obviously an older gentleman. He is also the Realtor and had his card with picture in the unit. Maybe his situation is that he is retiring and wants a lump of cash.
Or maybe you keep it in your long-term portfolio for cash flow. It all depends on your family need and situation. Wouldn’t you love to be in this situation? When your ready to put yourself in this situation, call me.
If you need to buy or sell a home, see us at www.5kflatfeelisting.com. We look forward to hearing from you.
Buyers get: Sellers get:
FREE Home Inspection 5k Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realto Brett Young, Cleveland Realtor
480-466-3737 (216) 703-5740
www.5kflatfeelisting.com by56083@gmail.com
nowlin.geoff@gmail.com
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