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6215 E Minton Place Mesa, AZ 85215

2 Beds 2 Baths 1,360 sqft Built 1979

$425,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $312.50
  • 3 Days on Market
  • MLS # : 6189000
  • Updated Date : 02/05/2021 at 01:17
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Arizona Living Perfected! Watch the golfers swing or the sun rise at the 14th Fairway at Painted Mountain Golf Course from your resort-style backyard. This recently updated home offers a custom feel with travertine flooring, granite counters, stainless appliances, a glass tile backsplash and a custom pantry. New windows and blinds along with new interior and exterior paint means that this home is ready for you to make it home. New large sliding door leads out to your covered patio and views of 2 fairways. Gated courtyard entry welcomes guests into your private oasis. Complete with a pavered patio, newly-added, extended pergola, new golf screens and a heated pool built in 2016. The backyard also features custom lighting and landscape design.

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
Shepherd Junior High School Middle Regular 627 35 7
Red Mountain High School High Regular 3,347 145 7

Shepherd Junior High School

  • Education Level: Middle
  • # of students: 627
  • # of teachers: 35
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,476
Property Tax -$221
Property Insurance -$54
HOA -$1
Property Management Fees -$99
CASH FLOW
-$531

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.

$425,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.31%

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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$373

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
  • $1,326

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,2494$1,2505$1,445
$1,445
RENT COMPS ANALYSIS
  • 6215 E Minton Place Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2639 N Olympic Circle Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 1979
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 2625 N Recker Road #3 Mesa, AZ 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
    •  
  • 2432 N Augusta Drive Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 1978
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.08
    •  
  • 6262 E Nance Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.98
    •  
PROPERTY LISTING DETAILS
Katie Taylor
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189000
Last Updated: 02/05/2021
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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