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6221 E Billings Street Mesa, AZ 85205

3 Beds 3 Baths 1,828 sqft Built 1971

$300,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $164.11
  • 3 Days on Market
  • MLS # : 6165208
  • Updated Date : 11/27/2020 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,828 sqft
  • Baths : 2 full , 1 half
Listing Agent

Stunning Homes Realty

Listing Agent's Description

Great move-in ready, remodeled home in 55+ community in Mesa! New interior paint. All new light fixtures. New kitchen cabinets, new quartz countertops, & new tile backsplash. Comes with stainless steel kitchen appliances! Sparkling bathrooms with updated vanities and toilets. Low maintenance backyard with mature trees. Come see this home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Velda Rose Estates East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Velda Rose Estates East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8601567

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,107
Property Tax -$177
Property Insurance -$63
HOA -$1
Property Management Fees -$99
CASH FLOW
$53

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.

$300,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.50%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$27,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,645

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4503$1,4954$1,5005$1,800
$1,800
RENT COMPS ANALYSIS
  • 6221 E Billings Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 6559 E Dallas Street Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1974
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.85
    •  
  • 940 N Sericin Circle Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1988
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 1893 Leisure World -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 6348 E Fairfield Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1986
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Elmon Krupnik
Stunning Homes Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165208
Last Updated: 11/27/2020
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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