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4643 E Downing Circle Mesa, AZ 85205

5 Beds 3 Baths 3,262 sqft Built 1999

$580,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $177.81
  • 3 Days on Market
  • MLS # : 6178400
  • Updated Date : 01/09/2021 at 03:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Clements Realty

Listing Agent's Description

Located in beautiful Valencia Groves on 1/3 acre with your own private 15 tree irrigated citrus grove! Well cared for spacious and immaculate 5 bedroom home ready to move in and enjoy. Upgraded cherry cabinets in kitchen, baths and laundry with lots of roll out drawers. Large custom cherry office and library. Huge master bedroom with 2 large walk in closets. Vaulted ceilings, wooden plantation shutters, custom leaded glass windows, soft water system RO drinking water, built in stereo speakers in front room, patio and art studio or 5th bedroom. Sparkling pebble tech pool for warm weather and heated spa and a cozy fireplace for cold winter nights. Large covered full shade fan cooled relaxation patio, spot lights in back yard and 2 air conditioning units new in 2017.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

* 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
Red Mountain High School High Regular 3,347 145 7

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

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$522,000$638,000$580,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,015
Property Tax -$395
Property Insurance -$91
HOA -$55
Property Management Fees -$99
CASH FLOW
-$254

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.

$580,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.41%

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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,015

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $145,000
Loan Amount $435,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$15,415

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
  • $2,528

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3503$2,600
$2,600
RENT COMPS ANALYSIS
  • 4643 E Downing Circle Mesa, AZ 1
    • 5 beds 3 baths ∙ 3,262 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,262 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4446 E Des Moines Street Mesa, AZ 2
    • 5 beds 3 baths ∙ 3,309 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,309 Sqft ∙ Built 1998
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.71
    •  
  • 4347 E Fox Circle Mesa, AZ 3
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2000
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Nancy Pilgrim
Clements Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178400
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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