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623 S St Paul -- Mesa, AZ 85206

3 Beds 3 Baths 1,906 sqft Built 1995

$379,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $199.32
  • 3 Days on Market
  • MLS # : 6181097
  • Updated Date : 01/14/2021 at 23:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,906 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gentry Real Estate

Listing Agent's Description

Start the new year off right in this lovely three bedroom, two and a half bath, Mesa home! This two-story home opens up to a living room featuring a quaint dining area. The cozy family room is connected to an open kitchen with granite counter tops, backsplash and wood floors. The upstairs features two spacious bedrooms and a full bathroom. There's also a master bedroom that opens to a large master bath and walk-in closet. The loft has plumbing for a mini-hair salon and can be easily returned back a normal loft or home office. The house sits across from a park with amenities that include basketball courts, a ramada, as well as a BBQ area. On those hot summer days, cool off in the large, fenced-in backyard pool. Oh, and the HOA maintains the front yard. How great is that?! Come see it today!

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
Mesa High School High Regular 3,406 155 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

Mesa High School

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

$341,910$417,890$379,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,320
Property Tax -$259
Property Insurance -$64
HOA -$71
Property Management Fees -$99
CASH FLOW
-$63

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.

$379,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.46%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,952

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,613
1$1,6132$1,6953$1,7254$1,7505$1,785
$1,785
RENT COMPS ANALYSIS
  • 623 S St Paul -- Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 5334 E Harmony Avenue Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2002
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,613
    • $0.91
    •  
  • 5337 E Harmony Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2002
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 5440 E Drummer Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
  • 5314 E Flower Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1998
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.01
    •  
PROPERTY LISTING DETAILS
Sharon E Gregory
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181097
Last Updated: 01/14/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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