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6332 E Portia Street Mesa, AZ 85215

3 Beds 2 Baths 1,451 sqft Built 1995

$349,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $241.14
  • 2 Days on Market
  • MLS # : 6197082
  • Updated Date : 02/20/2021 at 17:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,451 sqft
  • Baths : 2 full
Listing Agent

Ah Properties

Listing Agent's Description

VERY NICE HOME IN RIDGEVIEW WITH MOUNTAIN VIEWS OF SUPERSTITION MOUNTAINS!! ADORABLE 3 BEDROOM 2 BATH SINGLE LEVEL HOME FACES NORTH! DO NOT DISTURB TENANT....TENANT VACATES 4/1/21. BUYER TO VIEW WHEN PROPERTY INSPECTION IS DONE! A LOVELY HOME....SEE DOC'S SECTION FOR SPDS AND ADDENDUM A FOR $10,000.00 SELLER CREDIT FOR COE 4/1/21. ALL EXTERIOR JUST PAINTED 2 YEARS AGO IN 2019!!SELLER MOTIVATED TO SELL AND IF HOME CLOSES ON OR BEFORE 4/1/21 SELLER WILL GIVE BUYER $10,000 CREDIT AT CLOSE OF ESCROW TO TAKE CARE OF ANYTHING NEEDED AFTER TENANT VACATES!!! WE CAN SCHEDULE PROPERTY INSPECTION TO BE DONE AND BUYER CAN VIEW HOME AT THAT TIME. ALL PICTURES SO YOU CAN SEE FLOORPLAN PRIOR TO LAST TENANT MOVING IN.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

* 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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,215
Property Tax -$182
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
$129

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.

$349,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.48%

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$20k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$34,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6753$1,6804$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 6332 E Portia Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.16
    •  
  • 3012 N Papillon Circle Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1994
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.16
    •  
  • 6256 E Palm Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1994
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.15
    •  
  • 6154 E Portia Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1994
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.17
    •  
  • 6730 E Preston Street #19 Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,499 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,499 Sqft ∙ Built 1997
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.15
    •  
PROPERTY LISTING DETAILS
Laurie Parent
Ah Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6197082
Last Updated: 02/20/2021
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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