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1536 E Frost Street Mesa, AZ 85203

3 Beds 2 Baths 1,999 sqft Built 1978

$449,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $225.06
  • 2 Days on Market
  • MLS # : 6194081
  • Updated Date : 02/13/2021 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,999 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome to your new 3 bedroom 2 bath home located in the wonderful Tangerine Terrace community in Mesa! Pulling up to the home you are greeted with immaculate desert landscaping, gorgeous grass turf, an extended driveway, and excellent curb appeal that invites you in! Walking into the home you are welcomed with a spacious floor plan, freshly done neutral-toned paint throughout, beautiful tile flooring, a brick fireplace to cozy up to at the end of your day, tons of natural lighting, and plenty of room for all your friends and family gatherings. Your eat-in kitchen showcases crisp white cabinetry, granite countertops, stainless steel appliances, ample cabinet space, and plenty of space for preparing home cooked meals. Your spacious master bedroom features plush grey-toned carpet, a huge

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
Poston Junior High School Middle Regular 997 54 6
Mountain View High School High Regular 3,180 144 8

Poston Junior High School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 54
6
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

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

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,563
Property Tax -$233
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
-$301

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

$1,660

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$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$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

2.33

YEARS SAVED

$7,459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,794

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,7004$1,7955$1,950
$1,950
RENT COMPS ANALYSIS
  • 1536 E Frost Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1921 E Des Moines Street Mesa, AZ 2
    • 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
    •  
  • 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 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1747 E Gary Street Mesa, AZ 4
    • 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
    •  
  • 1526 E Fountain Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194081
Last Updated: 02/13/2021
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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