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556 E 7th Drive Mesa, AZ 85204

5 Beds 2 Baths 1,675 sqft Built 1964

$315,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $188.06
  • 2 Days on Market
  • MLS # : 6184949
  • Updated Date : 01/23/2021 at 16:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,675 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

BACK ON MARKET!!! VERY VERY CLEAN, MOVE IN READY 5 BEDROOM UPGRADED HOME IN MESA!!! Open Kitchen, split floorpan, beautiful granite in baths, tile throughout the main living area, carpet in 4 of the bedrooms, 2 sets of W/D hookups (one inside and one outside), upgraded throughout the last 5 years: new flooring, new windows, new kitchen, new baths, heavy insulation, synthetic stucco, huge 638 sf back patio, HUGE 192 sf storage unit, Dog house with A/C stays!! Utilities (water, electric, sewer, trash) are all with City Of Mesa & max utility bill for hottest months is approx $350 for everything... there is a gas line but has been disconnected, if buyer wants gas, City of Mesa can easily install gas meter, gas stub at range for easy connection.

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Mesa High School High Regular 3,406 155 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

Mesa High School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,094
Property Tax -$163
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$96

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.

$315,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.42%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$12,103

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
  • $1,516

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,5254$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 556 E 7th Drive Mesa, AZ 1
    • 5 beds 2 baths ∙ 1,675 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,675 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1559 E Flower Circle Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 844 E 10th Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1978
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 536 E Harmony Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 49 W Beall Avenue Mesa, AZ 5
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1968
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ulises Morales Sandoval
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184949
Last Updated: 01/23/2021
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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