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1916 W Devonshire Street Mesa, AZ 85201

3 Beds 2 Baths 1,382 sqft Built 1976

$329,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $238.71
  • 5 Days on Market
  • MLS # : 6154055
  • Updated Date : 10/30/2020 at 13:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,382 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Remodeled and ready for its new owner! This ranch style home has been tastefully updated with shaker cabinets, marble counter tops, stainless steel appliances, luxury plank vinyl flooring, plush carpet in all bedrooms....the list goes on and on. Pool size backyard is a clean slate ready for your own unique design. Walking distance to shops and restaurants at Mesa Riverview, Sloan Park (Cubs Spring training stadium) and a short drive to Tempe Marketplace and all it has to offer not to mention great freeway access. Hurry this one wont last!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mesa Grande

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Mesa Grande

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,217
Property Tax -$171
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$152

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.

$329,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.4%
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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,506

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3903$1,4004$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 1916 W Devonshire Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.01
    •  
  • 540 N May -- #3122 Mesa, AZ 1
    • 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
    •  
  • 1515 W 6th Street Mesa, AZ 3
    • 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
    •  
  • 540 N May -- #2130 Mesa, AZ 4
    • 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
    •  
  • 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
A. Brent Conley
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154055
Last Updated: 10/30/2020
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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