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1513 W 7th Avenue Mesa, AZ 85202

4 Beds 2 Baths 1,547 sqft Built 1961

$269,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $174.47
  • 4 Days on Market
  • MLS # : 6177278
  • Updated Date : 01/08/2021 at 18:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,547 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Charming & Move In Ready 4 Bedroom, 2 Bathroom home w/ a POOL! The front features a grassy yard (in progress), plenty of slab parking, & a storage shed. There is NO HOA to worry about so bring all your TOYS! Inside the home is SPACIOUS & has stylish vinyl wood plank flooring & new baseboards throughout! The interior is freshly painted, clean & ready for your personalized touches. The Kitchen is open to a living area either direction & has a Pantry that is also a ''discreet'' entrance to Master Suite. The 4th Bedroom could easily be made into an extension of the master suite or utilized as a home office or work out area..whatever your heart desires. Great Storage throughout including built in cabinets in the laundry area.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

* 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
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$937
Property Tax -$140
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$216

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.

$269,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.54%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$37,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,543

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,5004$1,5255$1,625
$1,625
RENT COMPS ANALYSIS
  • 1513 W 7th Avenue Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,547 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,547 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 1342 W Emerald Avenue #225 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1979
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.09
    •  
  • 1051 S Dobson Road #201 Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1979
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 1347 W 7th Drive Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1968
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.94
    •  
  • 507 S Rogers -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1970
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
PROPERTY LISTING DETAILS
Heather Justice
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177278
Last Updated: 01/08/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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