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1633 W 7th Place Mesa, AZ 85201

3 Beds 2 Baths 1,405 sqft Built 1961

$275,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $195.73
  • 3 Days on Market
  • MLS # : 6180583
  • Updated Date : 01/15/2021 at 22:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,405 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

PRIME location near shopping, spring-training, schools, and entertainment! Friendly NON-HOA Neighborhood, north/south exposure, POOL and LARGE Yard. Fresh Paint and Carpet in this Block Construction Home. Open House on Saturday, 1/16/21 from 10am - 2pm

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mesa Valley View

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Mesa Valley View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7871567

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$955
Property Tax -$143
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
$109

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.

$275,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.6%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$26,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,493

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3603$1,4004$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 1633 W 7th Place Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.97
    •  
  • 540 N May -- #3114 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.99
    •  
  • 540 N May -- #2130 Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1981
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
  • 540 N May -- #3122 Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
  • 737 N Santa Anna Circle Mesa, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kari Gutierrez
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180583
Last Updated: 01/15/2021
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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