Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6135 E Minton Place Mesa, AZ 85215

2 Beds 2 Baths 1,213 sqft Built 1984

INVESTimate

$255,000

List Price

$1,230

$1,107 - $1,353

Rent Est.

$271,550  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1984
  • Price/Sqft : $210.22
  • 10 Days on Market
  • MLS # : 6118712
  • Updated Date : 08/20/2020 at 16:34
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,213 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Mesa one-story cul-de-sac home is located in the highly sought after Camelot Golf Club Estates and offers granite countertops, stainless steel appliances, tile flooring, shutters, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

* 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
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$941
Property Tax -$132
Property Insurance -$51
HOA -$16
Property Management Fees -$99
CASH FLOW
-$9

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.

$255,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,380

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,230

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,222

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2303$1,2494$1,2955$1,550
$1,550
RENT COMPS ANALYSIS
  • 6135 E Minton Place Mesa, 2
    • 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.01
    •  
  • 2639 N Olympic Circle Mesa, 1
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 2625 N Recker Road #3 Mesa, 3
    • 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.96
    •  
  • 2151 N Recker Road Mesa, 4
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1971
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.04
    •  
  • 6209 E Nance Street Mesa, 5
    • 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 1985
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.15
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118712
Last Updated: 08/20/2020
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.

BESbswy