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1140 W 7th Street Mesa, AZ 85201

3 Beds 2 Baths 1,589 sqft Built 1955

$329,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $207.61
  • 3 Days on Market
  • MLS # : 6190559
  • Updated Date : 02/05/2021 at 21:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,589 sqft
  • Baths : 2 full
Listing Agent

Presidential Realty, Llc

Listing Agent's Description

Fantastic Mesa location! Renovated 3 bedroom, 2 bathroom home close proximity to Mesa Riverview shopping, the Loop 202 and 101, and Arizona State University. This home has brand new flooring and neutral modern paint throughout. Brand new quartz countertops in the kitchen and stainless steel appliances. Large bonus room features white brick fireplace with secret safe built into the floor. Walk-in closet in large master bedroom. This corner lot Mesa home has a detached garage and carport for plenty of parking and storage. Backyard features covered patio for enjoying Arizona's sunny weather. Come see your new home today!

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
Carson Junior High School Middle Regular 992 55 3
Westwood High School High Regular 3,131 145 4

Carson Junior High School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 55
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,146
Property Tax -$171
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$174

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.

$329,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.39%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4253$1,4504$1,5955$1,675
$1,675
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
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.82
    •  
  • 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
    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
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 1042 W Devonshire Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1972
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 634 N Cliff Circle Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1965
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ryan Jones
Presidential Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190559
Last Updated: 02/05/2021
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.

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