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221 W Hillside Street Mesa, AZ 85201

3 Beds 2 Baths 1,190 sqft Built 1969

$295,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $247.90
  • 2 Days on Market
  • MLS # : 6159812
  • Updated Date : 11/13/2020 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,190 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Great remodeled move in ready 3 bedroom 2 bathroom home. New white kitchen cabinets with Quartz countertops and brand new stainless appliances including a fridge. Tile throughout home and laminate floors in the bedrooms with new ceiling fans. Remodeled master bathroom with walk-in shower, new vanity, new faucets, new lights. Large laundry room North/south exposure. Newer Roof. Covered Patio Lots of real grass. Laundry room is in shed in carport. The plumbing was all replaced to it. NO HOA Enjoy

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mesa Grande

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k271k

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

Neighborhood: Mesa Grande

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6731567

* 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$1,088
Property Tax -$153
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$221

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.

$295,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,345

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,149
1$1,1492$1,1503$1,1704$1,3515$1,395
$1,395
RENT COMPS ANALYSIS
  • 221 W Hillside Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.98
    •  
  • 8 E Ivy Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 992 Sqft ∙ Built 1972 3 beds 2 baths ∙ 992 Sqft ∙ Built 1972
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,149
    • $1.16
    •  
  • 1849 N Spring Street #201 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1984
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.15
    •  
  • 155 E Jacaranda Street Mesa, AZ 4
    • 3 beds 1 baths ∙ 1,157 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,157 Sqft ∙ Built 1979
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,351
    • $1.17
    •  
  • 222 W Brown Road #88 Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lauren Rosin
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159812
Last Updated: 11/13/2020
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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