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5249 E Covina Road Mesa, AZ 85205

2 Beds 1 Baths 1,010 sqft Built 1963

$229,000

List Price

$980

$882 - $1.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $226.73
  • 3 Days on Market
  • MLS # : 6172933
  • Updated Date : 12/18/2020 at 16:22
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,010 sqft
  • Baths : 1 full
Listing Agent

Sound Realty

Listing Agent's Description

Beautiful remodel in Dreamland Villa! 55+ community! Large lot with block fencing. New garage, paint, laminate wood-look flooring, carpet, & countertops! HOA is voluntary, and if you are a member, can enjoy the clubhouse, pool, billiards, shuffleboard, exercise room, card groups, and other amenities.

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
 

$206,100$251,900$229,000

PURCHASE PRICE

$882$1,078$980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $980
EXPENSES Loan Payment -$845
Property Tax -$135
Property Insurance -$47
Property Management Fees -$99
CASH FLOW
-$146

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.

$229,000

PROJECTED PRICE

$980

PROJECTED RENT

0.43%

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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,577

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
  • $985

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7753$9254$1,0955$1,175
$1,175
RENT COMPS ANALYSIS
  • 5249 E Covina Road Mesa, AZ 1
    • 2 beds 1 baths ∙ 1,010 Sqft ∙ Built 1963 2 beds 1 baths ∙ 1,010 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5233 E University Drive #b Mesa, AZ 2
    • 2 beds 1 baths ∙ 860 Sqft ∙ Built 1966 2 beds 1 baths ∙ 860 Sqft ∙ Built 1966
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $775
    • $0.90
    •  
  • 5233 E University Drive #s Mesa, AZ 3
    • 2 beds 1 baths ∙ 898 Sqft ∙ Built 1966 2 beds 1 baths ∙ 898 Sqft ∙ Built 1966
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $1.03
    •  
  • 5239 E Boise Street Mesa, AZ 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Laura M Morby
Sound Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172933
Last Updated: 12/18/2020
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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