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1140 W 7th Street Mesa, AZ 85201

3 Beds 2 Baths 1,589 sqft Built 1955

$275,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $173.06
  • 2 Days on Market
  • MLS # : 6160707
  • Updated Date : 11/14/2020 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,589 sqft
  • Baths : 2 full
Listing Agent

Arrow Property Management

Listing Agent's Description

Check out this beautiful home! Looking for a home that is close to ASU, close to your kids school, close to shopping and entertainment? This is the one! It is perfectly situated on a corner lot in a family friendly neighborhood and within walking distance from the elementary school, junior high AND the high school! This home features 2 great rooms, 3 beds, 2 baths, a detached garage, and plenty of storage space! The garage has lots shelving, and would perfect to be used for a work shop! This home also has two AC Units!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Emerson Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $84k271k

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

Neighborhood: Emerson Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8381567

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,015
Property Tax -$143
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$16

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.

$275,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,557

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,438

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,4253$1,4504$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1140 W 7th Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.84
    •  
  • 225 N Standage Street #82 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1967 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1967
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.86
    •  
  • 725 W University Drive Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1951
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 1357 W 1st Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 1042 W Devonshire Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1972
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jacob L Wood
Arrow Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160707
Last Updated: 11/14/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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