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2325 E Contessa Street Mesa, AZ 85213

3 Beds 2 Baths 1,264 sqft Built 1972

$305,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $241.30
  • 4 Days on Market
  • MLS # : 6195836
  • Updated Date : 02/20/2021 at 21:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,264 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Beautifully updated 3 bedroom home in great North Mesa location! Spacious and open, this great room concept creates the perfect living area! Spacious living room is open to the contemporary kitchen. Kitchen has new white shaker cabinets with black quartz countertops with huge island and stainless appliances. Many nice touches including subway tile backsplash and updated fixtures. New flooring throughout including wood look vinyl plank flooring, new carpeting in bedrooms, new square baseboards, new doors and hardware. The master bedroom enjoys an addition which gives a lot of extra space, perfect for office or workout room. All A/C ductwork has been recently replaced Huge lot with and RV gate and storage shed. Exterior of home has been recently repainted. Great home with no HOA

SEE MORE

PRICE & RENT TRENDS

Neighborhood: McAfee Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $76k271k

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

Neighborhood: McAfee Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7381567

* 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
Poston Junior High School Middle Regular 997 54 6
Mountain View High School High Regular 3,180 144 8

Poston Junior High School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 54
6
GreatSchools Rating

Mountain View High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$1,059
Property Tax -$158
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$178

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.

$305,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$6,558

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,292

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,3504$1,5505$1,625
$1,625
RENT COMPS ANALYSIS
  • 2325 E Contessa Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2301 E University Drive #149 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,118 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,118 Sqft ∙ Built 1985
    LEASED 02/28/26
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.07
    •  
  • 2848 E Brown Road #33 Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1986
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 1435 E 3rd Place Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1966
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 1514 E 2nd Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
PROPERTY LISTING DETAILS
Diane Hale
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195836
Last Updated: 02/20/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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