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2531 E Baltimore Street Mesa, AZ 85213

3 Beds 2 Baths 1,708 sqft Built 1974

$369,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $216.57
  • 3 Days on Market
  • MLS # : 6163689
  • Updated Date : 12/05/2020 at 19:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,708 sqft
  • Baths : 1 full , 1 half
Listing Agent

Delex Realty

Listing Agent's Description

BEAUTIFUL 3 BEDROOM AND 2 BATHROOM REMODEL. HUGE MASTER BEDROOM ADDITION. PROFESSIONAL LANDSCAPING FRONT AND REAR. NEW LOW E DUAL PANE WINDOWS. NEW ROOF AND NEW 4 TON AC UNIT. ENTRY DOOR OPENS TO A GREAT ROOM CONCEPT. 2 LARGE BEDROOMS AND A PRIZED MASTER SUIT. COMPLETE WITH 2 WALK-IN CLOSETS, DOUBLE SINKS AND NEW SHOWER. KITCHEN IS COMPLETELY REMODELED W BREAKFAST BAR, ALL NEW SS APPLIANCES AND NEW REFRIGERATOR. NEW CABINETS AND CORIAN COUNTERS. KITCHEN ALSO HAS A PASS THRU WINDOW TO PATIO. PATIO IS PERFECT SET UP FOR BBQ AND HAS A NATURAL GAS STUB. 2 CAR GARAGE WITH SEPARATE ROOM FOR LAUNDRY. WASHER AND DRYER INCLUDED. THIS HOME IS TURNKEY! NO HOA

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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
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,365
Property Tax -$192
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$396

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.

$369,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.36%

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-$8.0k-$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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,687

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,4253$1,7004$1,7155$1,750
$1,750
RENT COMPS ANALYSIS
  • 2531 E Baltimore Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.77
    •  
  • 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
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.96
    •  
  • 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
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 1920 E Dana Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1956
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.96
    •  
  • 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
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jeff Hari
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163689
Last Updated: 12/05/2020
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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