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123 E 6th Avenue Mesa, AZ 85210

4 Beds 2 Baths 1,193 sqft Built 1955

$240,000

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $201.17
  • 2 Days on Market
  • MLS # : 6160172
  • Updated Date : 11/14/2020 at 05:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,193 sqft
  • Baths : 1 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

You will absolutely love this authentic single level property now available in delightful Mesa. Providing 1 car garage and white canvas front yard ready for your landscaping ideas. Bright and welcoming interior is complete with everything you have been looking for; living/dining area, neutral color palette, carpet in all the right places, 4 bedrooms, 1.5 bathrooms, and so much natural light that makes this place cozy and inviting. Well maintained kitchen has everything you need; tile back-splash, white cabinetry, plenty counter space, pantry, and white matching appliances. Large backyard includes covered patio and fenced-in area to potentially build a pool or make it your own. Opportunities like this don't come often. What are you waiting for? Call today before it's too late!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Mesa High School High Regular 3,406 155 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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$886
Property Tax -$125
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$19

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$240,000

PROJECTED PRICE

$1,140

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,177

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,140
1$1,1402$1,2953$1,3554$1,395
$1,395
RENT COMPS ANALYSIS
  • 123 E 6th Avenue Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,193 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,193 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.96
    •  
  • 315 E 7th Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1950
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.02
    •  
  • 573 N Sirrine -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,355
    • $1.01
    •  
  • 536 E Harmony Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1971
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
PROPERTY LISTING DETAILS
Kevin J O'brien
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160172
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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