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1914 E Downing Street Mesa, AZ 85203

3 Beds 2 Baths 1,629 sqft Built 1972

$339,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $208.10
  • 4 Days on Market
  • MLS # : 6202355
  • Updated Date : 03/05/2021 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,629 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Do not miss this newly updated 3bed/1.75bath ranch style Mesa home. This gem features great curb appeal leading you into the flowing floorplan. Sunken living room, family room with charming fireplace, vaulted ceilings, wood style flooring and soothing neutral paint tones are sure to impress. Well appointed eat in kitchen boasts wall ovens and plenty of cabinet/counter space. Large master retreat includes private en suite. The expansive low maintenance backyard with covered patio and RV gate, is perfect for relaxing and enjoying Arizona year round. Upgrades include new vinyl plank floors, new carpet in all bedrooms, new faucets & toilets, new shower, fresh paint and new lighting. Conveniently located in a quiet neighborhood with NO HOA! Close to the 202 and 60 freeways. Welcome Home!

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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,177
Property Tax -$176
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$111

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.

$339,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.41%

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

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,417

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4994$1,6505$1,697
$1,697
RENT COMPS ANALYSIS
  • 1914 E Downing Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 451 S Ridge -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1962
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 2441 E Alpine Avenue Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1969
    property image
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.85
    •  
  • 1921 E Des Moines Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 2531 E Glencove Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 1971
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,697
    • $0.86
    •  
PROPERTY LISTING DETAILS
Stephanie F Ramirez
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202355
Last Updated: 03/05/2021
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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