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2434 E Contessa Street Mesa, AZ 85213

3 Beds 2 Baths 1,650 sqft Built 1972

$275,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $166.67
  • 7 Days on Market
  • MLS # : 6158124
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This is a great opportunity for first time home buyer. The home has nice updates. Kitchen has granite counters with an island. Inside laundry room with walk in pantry and additional storage closet off the family room. The master has this amazing sitting room addition with built in shelves. To include Solar panels assumable loan huge savings... Covered patios in front & back, RV gate and storage sheds. Located near walking distance to schools Close to shopping ...

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
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,015
Property Tax -$143
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$14

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.

$275,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.48%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,414

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,6503$1,7004$1,7505$1,799
$1,799
RENT COMPS ANALYSIS
  • 2434 E Contessa Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $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
    •  
  • 2359 E Enrose Street Mesa, AZ 3
    • 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 4
    • 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
    •  
  • 716 N Oracle Circle Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1981
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.01
    •  
PROPERTY LISTING DETAILS
Stacey White
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158124
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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