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1618 W Auburn Street Mesa, AZ 85201

3 Beds 2 Baths 1,435 sqft Built 1960

$295,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $205.57
  • 3 Days on Market
  • MLS # : 6165221
  • Updated Date : 11/27/2020 at 09:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,435 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

VACANT! GREAT location near LOTS of Shopping & Dining. Also near, neighborhood parks, TONS of golf, TONS hiking and biking trails, and easy freeway access. One story, 3 bedroom, 2 bath floor plan with 2 car detached garage. The kitchen features painted cabinets, NEW quartz counter tops, NEW stainless steel appliance package. Fresh coat of Interior AND Exterior paint. NEW Luxury Vinyl Plank flooring throughout all main living areas, NEW carpeting in the bedrooms.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Casa Mesa

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k271k

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

Neighborhood: Casa Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7801567

* 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,088
Property Tax -$153
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$126

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.

$295,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,457

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,4953$1,4954$1,5955$1,625
$1,625
RENT COMPS ANALYSIS
  • 1618 W Auburn Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.89
    •  
  • 1357 W 1st Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1954
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 737 N Santa Anna Circle Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1974
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.12
    •  
  • 2123 W 1st Place Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1958
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 507 S Rogers -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1970
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165221
Last Updated: 11/27/2020
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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