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3140 E Downing Street Mesa, AZ 85213

3 Beds 2 Baths 1,608 sqft Built 1991

$365,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $226.99
  • 2 Days on Market
  • MLS # : 6187839
  • Updated Date : 01/30/2021 at 19:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

One-level 3BR home is in beautifully maintained Highland Park in Mesa's Citrus Corridor. Covered entrance welcomes you to this popular split floor plan with no homes behind for more privacy. This is a particularly attractive NO HOA community with a newer & more upscale feel. Cozy family room w/fireplace is open to the kitchen. 2 full baths have dual sinks. Separate living room can be used for an office, home schooling, or just relaxing. RV gate for RV parking, boat, & trailer. Enjoy plenty of storage: big walk-in pantry, master walk-in closet, garage w/ built-in shelves & bench, + storage shed stays. Big private back yard has covered patio & is ready for you to add your own design for entertaining all year long. Neighbors enjoy the nearby canal walking/biking path. 1 block to elementary...

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PRICE & RENT TRENDS

Neighborhood: The Groves

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181740

* 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
Poston Junior High School Middle Regular 997 54 6
Mountain View High School High Regular 3,180 144 8

Poston Junior High School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 54
6
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,268
Property Tax -$189
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$165

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.

$365,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.0%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,517

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
  • $1,636

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,4254$1,7505$1,799
$1,799
RENT COMPS ANALYSIS
  • 3140 E Downing Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2848 E Brown Road #33 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1986
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 2528 E Contessa Street Mesa, AZ 3
    • 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
    •  
  • 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
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 2848 E Brown Road #27 Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1985
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.05
    •  
PROPERTY LISTING DETAILS
Patti Swisher
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187839
Last Updated: 01/30/2021
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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