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5955 E Colby Street Mesa, AZ 85205

4 Beds 3 Baths 2,062 sqft Built 1968

$274,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $133.32
  • 4 Days on Market
  • MLS # : 6162252
  • Updated Date : 11/20/2020 at 18:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,062 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bliss Realty & Investments

Listing Agent's Description

Remodeled County Island home in Velda Rose Estates, HOA only $90 per year, per person! Two master bedrooms, one of which has its own separate entrance. New A/C, new roof on South side of house, new flooring, new kitchen, truly a one-of-a-kind gem. Kitchen has beautiful high-end quartz countertops, wall-mount oven, and gorgeous backsplash. Large lot with RV gate on the side. 200 year old saguaro cactus in the front yard. Priced for quick sale, schedule your showing today, it won't last long. 55+ Community. CC&Rs in documents, see pg. 4 for Age Restrictions.

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
 

$247,410$302,390$274,900

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 -$1,014
Property Tax -$162
Property Insurance -$67
HOA -$8
Property Management Fees -$99
CASH FLOW
$149

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.

$274,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.55%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$35,809

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
  • $0.73

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6504$1,895
$1,895
RENT COMPS ANALYSIS
  • 5955 E Colby Street Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 6248 E Encanto Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1986
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 1348 N 64th Place Mesa, AZ 3
    • 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 909 N Seton Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1986
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
PROPERTY LISTING DETAILS
Andrew L Dumas
Bliss Realty & Investments
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162252
Last Updated: 11/20/2020
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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