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633 S Balboa Street Mesa, AZ 85206

3 Beds 3 Baths 1,478 sqft Built 1996

$352,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $238.16
  • 2 Days on Market
  • MLS # : 6212858
  • Updated Date : 03/26/2021 at 20:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homie

Listing Agent's Description

Beautiful home with vaulted ceilings, Wood Floors In the Large Great Room and pretty tile in the Cozy Family Room. Small loft upstairs. Spacious grand Master Bedroom. Large Kitchen with lots of cabinet Cabinet Space. All Appliances are included with built in Microwave, Dishwasher, Range/Oven. Window Screens on all windows, Quiet Backyard with Covered Patio, 2 Car Garage, Great location! New Carpet! AC 2 years old. New exterior paint. New water heater.

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
Taylor Junior High School Middle Regular 1,152 64 3
Mesa High School High Regular 3,406 155 4

Taylor Junior High School

  • Education Level: Middle
  • # of students: 1,152
  • # of teachers: 64
3
GreatSchools Rating

Mesa High School

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

$316,800$387,200$352,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,223
Property Tax -$240
Property Insurance -$56
HOA -$84
Property Management Fees -$99
CASH FLOW
-$151

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.

$352,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,030

INVESTMENT

$99,030

Down Payment
$88,000
Rehab Estimate
$5,750
Closing Costs
$5,280

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,000
Loan Amount $264,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5503$1,6504$1,6955$1,785
$1,785
RENT COMPS ANALYSIS
  • 633 S Balboa Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.05
    •  
  • 5303 E Forge Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1992
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 5450 E Dolphin Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 4958 E Harmony Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1997
    property image
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
  • 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
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.01
    •  
PROPERTY LISTING DETAILS
Daryl R Snow
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212858
Last Updated: 03/26/2021
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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