Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2448 E Contessa Street Mesa, AZ 85213

3 Beds 2 Baths 1,160 sqft Built 1972

$290,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $250.00
  • 3 Days on Market
  • MLS # : 6165336
  • Updated Date : 11/27/2020 at 16:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

THOUSANDS BELOW CURRENT MARKET APPRAISAL! CHARMING! 3 bedroom, 2 bath, 2 garage, home nestled in the sought-after community of McAfee Heights w/stunning, artistic Arizona sunsets! Light, bright, open, spacious floor plan! 2-tone designer paint w/warm, rich earth tones! Open, spacious eat-in kitchen w/ B-I microwave & counter space galore! Can you believe the washer, dryer & refrigerator all convey?! Flooring, kitchen, baths, plumbing & wiring all updated in 2018! Updated lighting & fans! Covered patio & very private, backyard w/Gazebo! POOL, Built-in SPA! Great for entertaining! RV Gate: Honey, bring home the boat! Close to restaurants, shopping, hiking & freeways.

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
 

$261,000$319,000$290,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$1,070
Property Tax -$150
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$269

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.

$290,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.38%

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-$6.0k-$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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,227

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2003$1,2004$1,3505$1,599
$1,599
RENT COMPS ANALYSIS
  • 2448 E Contessa Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.95
    •  
  • 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
    •  
  • 3813 E Alder Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1992
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.04
    •  
  • 3331 E Calypso Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1983
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 2159 E Encanto Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.07
    •  
PROPERTY LISTING DETAILS
Amy Laidlaw
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165336
Last Updated: 11/27/2020
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.

BESbswy