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616 N Matlock Street Mesa, AZ 85203

4 Beds 3 Baths 2,360 sqft Built 1971

$409,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $173.69
  • 4 Days on Market
  • MLS # : 6159281
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,360 sqft
  • Baths : 3 full
Listing Agent

Top Realty Llc

Listing Agent's Description

Wow this is it, Welcome Home! Amazing single story with double master bedrooms includes 3 full baths. New gravel put in for easy maintenance. Fully updated kitchen offers granite countertops, granite backsplash, stainless steel appliances and Gas range. Oversize Lot with long driveway, living room and family room included. The back patio is immense and can host a large party. Back gate offers ally access. Fruit trees around the home such as lemon, passion fruit, guava, and pomegranate to enjoy. This is a must see home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* 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
Westwood High School High Regular 3,131 145 4

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

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$368,910$450,890$409,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,512
Property Tax -$213
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$207

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.

$409,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,512

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,012

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$1,9504$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 616 N Matlock Street Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.72
    •  
  • 1440 E 2nd Place Mesa, AZ 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1959
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 1526 E Fountain Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 303 E Gary Circle Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,525 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,525 Sqft ∙ Built 1984
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 1230 E Gary Circle Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1991
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
PROPERTY LISTING DETAILS
Megan M Janbou
Top Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159281
Last Updated: 11/13/2020
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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