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2418 E Billings Street Mesa, AZ 85213

4 Beds 2 Baths 1,524 sqft Built 1975

$374,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $246.00
  • 2 Days on Market
  • MLS # : 6184784
  • Updated Date : 01/23/2021 at 00:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,524 sqft
  • Baths : 2 full
Listing Agent

Hague Partners

Listing Agent's Description

Beautiful 4 bedrooms, 2 bath home with upgraded kitchen cabinets and tile thru the house. Also, has a large pantry for additional refrigerator and extra space. In Addition, has a large laundry room inside the house with cabinets. Plus, a Diving Private Pool with large backyard that includes a grill area and Shed for all your tools. Finally, this house has RV Gate entrance and it's across the street from a walking park to play. Also, It's a corner house with a large lot for parking and NO HOA!! This house has everything you Need!!

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
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,302
Property Tax -$195
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$283

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.

$374,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,977

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
  • $1,474

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4253$1,6504$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 2418 E Billings Street Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2528 E Contessa Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1994
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.96
    •  
  • 1921 E Des Moines Street Mesa, AZ 3
    • 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
    •  
  • 2359 E Enrose Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 1973
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 2711 E Des Moines Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Analia Cool
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184784
Last Updated: 01/23/2021
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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