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615 S Pima -- Mesa, AZ 85210

4 Beds 2 Baths 1,653 sqft Built 1955

$325,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $196.61
  • 2 Days on Market
  • MLS # : 6200241
  • Updated Date : 02/27/2021 at 17:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,653 sqft
  • Baths : 2 full
Listing Agent

Superlative Realty

Listing Agent's Description

This home features 4 Bedrooms, 1.75 Baths, and 1,444 Sq. Ft. of living space. Upon entering the home, you will find the living room open. Some of the many amenities include, fireplace, high ceilings, granite countertops and lots of cabinets in the eat-in kitchen, a walk-in shower in the master bath, a wall-in closet in the master bedroom and a storage shed out back. Unit has new AC unit, water heater, and Electrical panel.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Kino Junior High School Middle Regular 1,020 49 3
Mesa High School High Regular 3,406 155 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Mesa High School

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

$292,500$357,500$325,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,129
Property Tax -$169
Property Insurance -$59
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 15% of earned rent to cover both maintenance and periods of vacancy.

$325,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
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-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,471

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4503$1,6004$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 615 S Pima -- Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.82
    •  
  • 120 S Lebaron -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1955
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 49 W Beall Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1968
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 221 S Olive -- Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.97
    •  
  • 61 S Temple Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
PROPERTY LISTING DETAILS
Richard Wilson
Superlative Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200241
Last Updated: 02/27/2021
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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