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6053 E Boston Street Mesa, AZ 85205

2 Beds 3 Baths 1,379 sqft Built 1971

$245,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $177.66
  • 4 Days on Market
  • MLS # : 6156624
  • Updated Date : 11/06/2020 at 11:33
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,379 sqft
  • Baths : 3 full
Listing Agent

Farnsworth-ricks Management & Realty, Inc.

Listing Agent's Description

This is one of the homes in Dreamland Villa that you will want to call home. The front patio says welcome. This two bedroom / three bathroom is a must see home. The kitchen has been remodeled with newer cabinets and appliances. The kitchen has a breakfast bar for your eating convenience. There is a formal dining room separate from the living room. The Arizona room is added living space with a bathroom. There is a separate sun room attached to the Arizona room. The laundry room is extra large and has a separate air conditioner unit. The double garage has some built in cabinets. The back yard has a dream 10 by 20 foot storage shed. This storage unit could make a great place to work on your hobbies. Dreamland Villa is a 55 plus community. Dreamland Villa has many amenities which are optional

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
Fremont Junior High School High Regular 976 48 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

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$904
Property Tax -$144
Property Insurance -$54
HOA -$33
Property Management Fees -$99
CASH FLOW
$46

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.

$245,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.52%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,919

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
  • $1,400

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,0953$1,2004$1,2955$1,550
$1,550
RENT COMPS ANALYSIS
  • 6053 E Boston Street Mesa, AZ 1
    • 2 beds 3 baths ∙ 1,379 Sqft ∙ Built 1971 2 beds 3 baths ∙ 1,379 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5239 E Boise Street Mesa, AZ 2
    • 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
    •  
  • 319 N 61st Way Mesa, AZ 3
    • 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
    •  
  • 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
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
  • 6551 E Des Moines Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,432 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,432 Sqft ∙ Built 1975
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
PROPERTY LISTING DETAILS
Patrick Duffy
Farnsworth-ricks Management & Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156624
Last Updated: 11/06/2020
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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