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5239 E Butte Street Mesa, AZ 85205

2 Beds 2 Baths 1,166 sqft Built 1961

$225,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $192.97
  • 3 Days on Market
  • MLS # : 6160261
  • Updated Date : 11/13/2020 at 14:16
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,166 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

WOW! Brand-new flooring throughout and brand-new paint inside and outside for this now sparkling 2 bedroom + Den, 2 bath home in popular Dreamland Villa 55+ Adult community! Spacious floorplan feels much larger than its square footage, plus there is an additional enclosed Arizona Room for extra living space. Perfect for a retirement home or winter-visitor retreat. There is an OPTIONAL yearly membership if you choose to use Dreamland Villa's extensive clubs, pools, spas and sport courts. Hurry, homes in this popular community do not last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$830
Property Tax -$133
Property Insurance -$50
HOA -$1
Property Management Fees -$99
CASH FLOW
-$53

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.

$225,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$11,777

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
  • $0.91

    LIST RENT PER SQFT
  • $1,157

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$925
1$9252$1,0603$1,0954$1,1755$1,200
$1,200
RENT COMPS ANALYSIS
  • 5239 E Butte Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,166 Sqft ∙ Built 1961 2 beds 2 baths ∙ 1,166 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.91
    •  
  • 131 N Higley Road #113 Mesa, AZ 1
    • 2 beds 2 baths ∙ 900 Sqft ∙ Built 1964 2 beds 2 baths ∙ 900 Sqft ∙ Built 1964
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $1.03
    •  
  • 5239 E Boise Street Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1963 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1963
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.94
    •  
  • 5409 E Butte Street Mesa, AZ 4
    • 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.03
    •  
  • 319 N 61st Way Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Greg Askins
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160261
Last Updated: 11/13/2020
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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