Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1101 E 7th Street Mesa, AZ 85203

3 Beds 3 Baths 2,200 sqft Built 1956

$449,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $204.50
  • 2 Days on Market
  • MLS # : 6185008
  • Updated Date : 01/24/2021 at 01:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

Midland Real Estate Alliance

Listing Agent's Description

Welcome home to this absolutely stunning 3/2.5 FULLY REMODELED spacious home with open floor plan and sparkling pool. Featuring a brand new roof, windows, natural lighting and wood plank tile flooring. The kitchen was redesigned with new cabinets, quartz countertops , large island and chic coffee/beverage station. THere is a beautiful warm and cozy fireplace in family room great for chilly nights. The dining/great room has corner to corner windows for outdoor living concept. Guest bath has new shower/tub, vanity and lighting. Master bath has new modern designed oversized walk in shower. Low maintenance landscaping and synthetic grass. Large patio great for entertaining friends/family and huge lot. Do not hesitate to schedule a showing today!

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
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
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,563
Property Tax -$233
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
-$235

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.

$449,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.38%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,964

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 1101 E 7th Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.79
    •  
  • 1921 E Des Moines Street Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1903 E Jarvis Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 956 E 9th Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1747 E Gary Street Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1973
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Nakia Brazil
Midland Real Estate Alliance
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185008
Last Updated: 01/24/2021
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.

BESbswy