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5730 E Colby Street Mesa, AZ 85205

2 Beds 2 Baths 1,219 sqft Built 1964

$230,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $188.68
  • 4 Days on Market
  • MLS # : 6177821
  • Updated Date : 01/07/2021 at 04:10
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,219 sqft
  • Baths : 1 full , 1 half
Listing Agent

Penfield Properties

Listing Agent's Description

Must see this two bedroom home with open kitchen and great room floor plan ** Washer/Dryer and refrigerator are included ** Maple cabinets in kitchen ** Tile floors in kitchen ** Separate outdoor laundry room ** This home is ready for your client to move in

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Velda Rose Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Velda Rose Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171567

* 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
 

$207,000$253,000$230,000

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 -$799
Property Tax -$136
Property Insurance -$51
HOA -$2
Property Management Fees -$99
CASH FLOW
$154

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.

$230,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.6%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$28,204

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
  • $1.02

    LIST RENT PER SQFT
  • $1,292

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,2403$1,2504$1,2955$1,395
$1,395
RENT COMPS ANALYSIS
  • 5730 E Colby Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,219 Sqft ∙ Built 1964 2 beds 2 baths ∙ 1,219 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.02
    •  
  • 5409 E Butte Street Mesa, AZ 1
    • 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1960
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.03
    •  
  • 5478 E Albany Street Mesa, AZ 3
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1959
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 6257 E Dodge Street Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
  • 5350 E Des Moines Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 1966 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 1966
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.10
    •  
PROPERTY LISTING DETAILS
Maggie Diamond
Penfield Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177821
Last Updated: 01/07/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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