Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

514 S Stewart -- Mesa, AZ 85202

4 Beds 2 Baths 1,650 sqft Built 1960

$390,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $236.36
  • 2 Days on Market
  • MLS # : 6263376
  • Updated Date : 07/12/2021 at 18:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

Get ready to move in & enjoy this charming, highly upgraded gem in desirable Mesa! Boasting 3 roomy bedrooms, 2 spotless bathrooms, 1 car garage, and a grassy front yard w/mature shade tree. Discover the updated interior featuring an inviting great room, cozy family room w/patio access, window treatments, abundant natural light, wood-look tile flooring paired w/soft carpet flooring, and fresh paint inside & out. The kitchen gives you sparkling SS appliances, granite countertops, subway tile backsplash, and white shaker cabinets. Main bedroom has a walk-in closet and private bathroom for an added comfort. Also including a perfectly sized backyard with a covered patio to sit back & relax after a busy day. Close to freeway, schools, shopping, and more. A great starter home for you! Must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Carson Junior High School Middle Regular 992 55 3
Westwood High School High Regular 3,131 145 4

Carson Junior High School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 55
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,355
Property Tax -$202
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$215

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.

$390,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$8,533

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5254$1,7505$1,945
$1,945
RENT COMPS ANALYSIS
  • 514 S Stewart -- Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 1051 S Dobson Road #201 Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1979
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 1347 W 7th Drive Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1968
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.94
    •  
  • 1019 W Enid Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1972
    property image
    LEASED 04/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.17
    •  
  • 1543 W 2nd Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1966
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.06
    •  
PROPERTY LISTING DETAILS
Brian Kingdeski
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6263376
Last Updated: 07/12/2021
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.

BESbswy