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1955 E 1st Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,534 sqft Built 1957

INVESTimate

$250,000

List Price

$1,320

$1,188 - $1,452

Rent Est.

$273,850  ( +9.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $162.97
  • 4 Days on Market
  • MLS # : 6120183
  • Updated Date : 08/23/2020 at 12:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,534 sqft
  • Baths : 1 full , 1 half
Listing Agent

Kenneth James Realty

Listing Agent's Description

3 bed, 1.5 bath property located in Mesa is now on the market! Featuring 2 carport parking space with an additional storage/workspace room! Original owners. Roof was updated 4 years ago and partial AC. Ac has been serviced once a year. The home is being SOLD AS IS!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert - Main Street

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Gilbert - Main Street

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7761567

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$922
Property Tax -$130
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$112

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.

$250,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$30,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,438

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3953$1,6254$1,6505$1,715
$1,715
RENT COMPS ANALYSIS
  • 1955 E 1st Avenue Mesa, 1
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.86
    •  
  • 451 S Ridge -- Mesa, 2
    • 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
    •  
  • 1514 E 2nd Street Mesa, 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
  • 1921 E Des Moines Street Mesa, 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
    •  
  • 1920 E Dana Avenue Mesa, 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
Tj Wynne
Kenneth James Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120183
Last Updated: 08/23/2020
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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