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507 W 6th Drive Mesa, AZ 85210

3 Beds 1 Baths 1,055 sqft Built 1948

$265,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $251.18
  • 2 Days on Market
  • MLS # : 6163383
  • Updated Date : 11/20/2020 at 20:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,055 sqft
  • Baths : 1 full
Listing Agent

West Usa Realty

Listing Agent's Description

VACANT AND READY TO MOVE INThis charming house is completely renovated with a gorgeous open area concept, new kitchen cabinets and a peninsula with Quartz countertops also includes stainless steel appliances, the full bathroom has been fully renovated; this amazing house has a service/RV access gate to a huge backyard with mayor potential and a storage shed. the location is excellent with close access to US60, 202 and the 101 freeways.owner-agent

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kleinman Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $68k271k

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

Neighborhood: Kleinman Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7181567

* 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
Dobson High School High Regular 2,639 122 4

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

Dobson High School

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

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

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$978
Property Tax -$138
Property Insurance -$48
Property Management Fees -$99
CASH FLOW
-$212

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

$1,050

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.4%
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 60% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,117

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
  • $1,071

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2953$1,355
$1,355
RENT COMPS ANALYSIS
  • 507 W 6th Drive Mesa, AZ 1
    • 3 beds 1 baths ∙ 1,055 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,055 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 315 E 7th Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1950
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.02
    •  
  • 573 N Sirrine -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940
    property image
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,355
    • $1.01
    •  
PROPERTY LISTING DETAILS
Martha Olague-deyden
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163383
Last Updated: 11/20/2020
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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