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6321 E Adobe Road Mesa, AZ 85205

2 Beds 2 Baths 1,194 sqft Built 1970

$235,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $196.82
  • 2 Days on Market
  • MLS # : 6200323
  • Updated Date : 02/27/2021 at 22:47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,194 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

This charming 2 bed/ 2 bath is in an active 55+ community & has NO HOA! The home boasts plenty of natural light, a spacious living area, ample storage & is a great place to lounge or entertain. The chef's kitchen features quartz countertops, white appliances & a walk-in pantry. The 2 cozy bedrooms both have ceiling fans & closets. The secluded office space with a built in desk leads directly to the private backyard. The low maintenance backyard showcases a plethora of different fruit trees, a storage shed & covered patio space. This home has a newer A/C, a hot water heater & water softener. Don't miss your chance on this amazing opportunity & book your showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Dreamland Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7941567

* 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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Red Mountain High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$816
Property Tax -$138
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
$56

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.

$235,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$18,866

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
  • $1,236

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,0953$1,2004$1,2955$1,295
$1,295
RENT COMPS ANALYSIS
  • 6321 E Adobe Road Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,194 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,194 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5808 E Brown Road #106 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,120 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,120 Sqft ∙ Built 1987
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.98
    •  
  • 319 N 61st Way Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,231 Sqft ∙ Built 1973
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
  • 645 N 63rd Place Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1971
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.12
    •  
  • 6257 E Dodge Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
PROPERTY LISTING DETAILS
David Arustamian
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200323
Last Updated: 02/27/2021
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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