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2055 E Fairfield Street Mesa, AZ 85213

4 Beds 2 Baths 2,182 sqft Built 1972

$410,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $187.90
  • 3 Days on Market
  • MLS # : 6172929
  • Updated Date : 12/18/2020 at 16:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,182 sqft
  • Baths : 2 full
Listing Agent

Invest Smart Real Estate Pros

Listing Agent's Description

Stop the car.... Set up your viewing appointment.. Great house to call home.. NO HOA!! 1/4 acre lot with plenty of parking. House features a 2 car garage, driveway can fit 4-6 cars, slab covered carport behind RV gate and RV parking on side. Wide RV gate for your toys! Back yard also has 2 storage sheds that stay! Private pebble-tech pool/gated, salt-system, cool deck and water feature. Also features an above ground spa and covered patio!! Inside: Open spacious floor-plan and large rooms. Upon entry is one of the livings room that features new tile, crown molding, higher ceilings. Original windows have been replaced with dual pane windows. Family room features a gas fireplace, 4 french panel doors/a lot of natural light. New A/C in 2018, newer roof. Large den can be used as 5th bedroom.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k329k

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,513
Property Tax -$213
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
$46

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.

$410,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.47%

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$1.2M$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$36,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,898

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7954$1,9405$1,950
$1,950
RENT COMPS ANALYSIS
  • 2055 E Fairfield Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.89
    •  
  • 2347 E Fox Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 1978
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 1921 E Des Moines Street Mesa, AZ 2
    • 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
    •  
  • 1747 E Gary Street Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 1973
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 1526 E Fountain Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Vicky Walsh
Invest Smart Real Estate Pros
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172929
Last Updated: 12/18/2020
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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