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510 E Franklin Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,389 sqft Built 1961

$339,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $244.71
  • 3 Days on Market
  • MLS # : 6202814
  • Updated Date : 03/05/2021 at 16:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,389 sqft
  • Baths : 2 full
Listing Agent

Ags Realty & Associates

Listing Agent's Description

COMPLETE REMODEL!! NEW ROOF. Open Concept. Fully remodeled kitchen, with; new pantry, new SS appliances, electric oven/stove with above stove microwave, quartz countertops, subway tile backsplash, new cabinets, new fixtures, faucets, and lights. New interior lights, ceiling fans, new dual pane windows, new blinds, and new interior and exterior doors. Flooring; new ceramic tile, and carpet throughout. Both bathrooms fully remodeled. Master bath remodeled with designer shower, new mirrors, lights. New water heater. New exterior and interior paint. Remodeled indoor laundry room. Remodeled plastered pool, added autofill and all new cool decking up to large covered patio. New landscaping front and back, new backyard gates on both sides of house and a large 2 car covered carport. NO HOA !

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k271k

* 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
Kino Junior High School Middle Regular 1,020 49 3
Mesa High School High Regular 3,406 155 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$1,181
Property Tax -$176
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$270

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.

$339,900

PROJECTED PRICE

$1,240

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-$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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$3,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,361

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,2953$1,4504$1,4755$1,550
$1,550
RENT COMPS ANALYSIS
  • 510 E Franklin Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.89
    •  
  • 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
    •  
  • 1050 S Stapley Drive #1 Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 433 S Pioneer -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.93
    •  
  • 536 E Harmony Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Nicole D Allard
Ags Realty & Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202814
Last Updated: 03/05/2021
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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