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447 W Mahoney Avenue Mesa, AZ 85210

2 Beds 1 Baths 1,248 sqft Built 1940

$265,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $212.34
  • 3 Days on Market
  • MLS # : 6199121
  • Updated Date : 02/26/2021 at 12:39
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,248 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Welcome to the highly sought after downtown Mesa neighborhood of Vineyard Place just one block from the light rail and near the new ASU at Mesa City Center. This 2 bedroom plus oversized storage room and detached workshop, 1 bathroom home sits on a premium oversized North/South facing lot with a completely gated exterior, deepset entry, and well maintained vintage porches in the front and back. Upgrades throughout the home include interior and exterior paint, baseboards, hard surface flooring throughout, dual pane energy efficient windows and a completely remodeled kitchen with custom cabinets, granite tile counter tops, and all appliances included. The two large guest bedrooms sit down the hall from the full guest bathroom, laundry room with counter space, and oversized storage room...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Main

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: West Main

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7801567

* 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
Rhodes Junior High School Middle Regular 985 52 4
Dobson High School High Regular 2,639 122 4

Rhodes Junior High School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 52
4
GreatSchools Rating

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$920
Property Tax -$138
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$148

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$5,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,017

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$920
1$9202$9503$1,060
$1,060
RENT COMPS ANALYSIS
  • 447 W Mahoney Avenue Mesa, AZ 3
    • 2 beds 1 baths ∙ 1,248 Sqft ∙ Built 1940 2 beds 1 baths ∙ 1,248 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.85
    •  
  • 946 N Orange -- #b Mesa, AZ 1
    • 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1960 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1960
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $920
    • $0.84
    •  
  • 526 S Mesa Drive #1 Mesa, AZ 2
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1943 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1943
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
PROPERTY LISTING DETAILS
Mindy Jones Nevarez
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199121
Last Updated: 02/26/2021
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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