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1932 E Vine Avenue Mesa, AZ 85204

4 Beds 2 Baths 1,604 sqft Built 1960

$280,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $174.56
  • 2 Days on Market
  • MLS # : 6170618
  • Updated Date : 12/12/2020 at 19:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,604 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Your new home is affordable, adorable with great location near Light Rail, highways, and shopping for your convenience. Your home is low maintenance block construction located on a wonderful cul-de-sac., there is even an original owner nearby. With 4 bedrooms, 2 baths this home has plenty of room for everyone, plus lots of storage including a locked storage room on the back of the home. Check out the many newer features including dual pane windows, carpet, paint, water heater, garbage disposal & dual flush toilets. All the bedrooms & the family room have ceiling fans for cooling off in the summer. One bedroom is extra large with a separate entrance to your backyard that features easy care yard, with garden/vegetable beds for your plantings. Priced right and just waiting for you to move in!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Reed Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Reed Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7791567

* 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
Mesa High School High Regular 3,406 155 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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,033
Property Tax -$145
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$304

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.

$280,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.0%
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$0.0$5.0k$10k$15k$20k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$55,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,4994$1,6405$1,715
$1,715
RENT COMPS ANALYSIS
  • 1932 E Vine Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.02
    •  
  • 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
    •  
  • 1559 E Flower Circle Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 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
    •  
  • 1920 E Dana Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1956
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jenny Poole
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170618
Last Updated: 12/12/2020
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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