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1741 W Belfast Street Mesa, AZ 85201

3 Beds 2 Baths 1,300 sqft Built 1960

$260,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $200.00
  • 5 Days on Market
  • MLS # : 6154070
  • Updated Date : 11/01/2020 at 18:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Charming 3 bedroom, 2 bath home with large great room with sunk in formal living room. Large pantry for storage off the kitchen. Large backyard includes a covered patio and storage shed and RV gate that exits out the alley. Plumbing and electrical brought up to date in 2009. No HOA. Conveniently located between downtown Mesa and ASU with close access to both the light rail and freeway.

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$959
Property Tax -$135
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
$44

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.

$260,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

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

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$23,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,492

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,3503$1,3504$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 1741 W Belfast Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.99
    •  
  • 540 N May -- #3122 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1980
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 2429 E 7th Street Tempe, AZ 3
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1979
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.19
    •  
  • 2612 E Oakleaf Drive Tempe, AZ 4
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.23
    •  
  • 1515 W 6th Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1959
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
PROPERTY LISTING DETAILS
Tricia Gillam
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154070
Last Updated: 11/01/2020
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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