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2338 E Minton Street Mesa, AZ 85213

6 Beds 5 Baths 5,252 sqft Built 2000

$1,279,990

List Price

$3,790

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $243.71
  • 3 Days on Market
  • MLS # : 6181684
  • Updated Date : 01/15/2021 at 22:18
CONSTRUCTION
  • Beds : 6
  • Floor Size : 5,252 sqft
  • Baths : 4 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

The Perfect Home with a Basement, RV/Toy garage 26x36 with Theater/Gameroom! This home has a resort style Diving pool and yard! The home has high end finishes with solid wood doors and custom Cabinetry. It just gets better with sonic type ice machine in the Patry! The Master Bath boasts incredible finishes with built in steam shower and jetted tub with his and hers closets! This will be resort style living at is best. 6 bedrooms plus office, oversized garage, pool bath, 4.5 baths, 2 laundry areas one up and 1 down. Come and see this for yourself as pictures are never as good as being there in real life! The kitchen was recently remodeled with Cambria white quartz tops farm sink with refinished wood floors!

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
 

$1,151,991$1,407,989$1,279,990

PURCHASE PRICE

$3,411$4,169$3,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,790
EXPENSES Loan Payment -$4,446
Property Tax -$872
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$1,756

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.

$1,279,990

PROJECTED PRICE

$3,790

PROJECTED RENT

0.30%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$344,947

INVESTMENT

$344,947

Down Payment
$319,998
Rehab Estimate
$5,750
Closing Costs
$19,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,446

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $319,998
Loan Amount $959,993
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,790

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $3,886

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,790
1$3,7902$4,000
$4,000
RENT COMPS ANALYSIS
  • 2338 E Minton Street Mesa, AZ 1
    • 6 beds 5 baths ∙ 5,252 Sqft ∙ Built 2000 6 beds 5 baths ∙ 5,252 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $0.72
    •  
  • 2336 N Val Vista Drive Mesa, AZ 2
    • 6 beds 6 baths ∙ 5,440 Sqft ∙ Built 2004 6 beds 6 baths ∙ 5,440 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.74
    •  
PROPERTY LISTING DETAILS
Lexie Funk
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181684
Last Updated: 01/15/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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