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6242 E Mclellan Road Mesa, AZ 85205

5 Beds 2 Baths 1,756 sqft Built 1986

$375,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $213.55
  • 4 Days on Market
  • MLS # : 6186807
  • Updated Date : 02/04/2021 at 05:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,756 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

NO HOA! Rare 5-bedroom single story home on large corner lot upgraded with tile floors throughout, 5'' baseboards, all new windows. Great room open floor plan features large master with custom tiled shower on one side, 4 bedrooms on the other. Kitchen boasts upgraded shaker style cabinets, granite countertops and stainless-steel appliances. From your kitchen sink you can keep an eye on your back yard, covered patio that spans the length of the home, mature citrus tree, and large 10x14 detached workshop with electricity and work benches. New sprinkler system recently installed; new light sconces flanking garage doors are set on a timer. Add an RV gate and there is ample space for RV parking. DID I MENTION NO HOA!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,303
Property Tax -$195
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$118

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.

$375,000

PROJECTED PRICE

$1,540

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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,170

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
  • $1,589

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,7504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 6242 E Mclellan Road Mesa, AZ 1
    • 5 beds 2 baths ∙ 1,756 Sqft ∙ Built 1986 5 beds 2 baths ∙ 1,756 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1348 N 64th Place Mesa, AZ 2
    • 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1987
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 5865 E Jasmine Street Mesa, AZ 3
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 1990
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 7218 E Northridge Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 2003
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 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
Chelsea Lindblad
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186807
Last Updated: 02/04/2021
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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