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6349 E Redmont Drive Mesa, AZ 85215

3 Beds 3 Baths 2,381 sqft Built 1987

$429,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $180.18
  • 1 Days on Market
  • MLS # : 6176511
  • Updated Date : 01/03/2021 at 04:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,381 sqft
  • Baths : 3 full
Listing Agent

Delex Realty

Listing Agent's Description

Home for Sale in Mesa in highly sought after Red Mountain Ranch Community & Golf Club. Kitchen features granite countertops, travertine tile, and windows that extend over dining area. Travertine tile and hardwood floors throughout. Very private backyard with pool and water feature, patio & grill. Den with fireplace, wet bar, and bonus loft space. Double sided fireplace and sunken tub in first floor Master Suite. Additional bedrooms/bath and loft on 2nd floor. More photos coming shortly!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Red Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $109k408k

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

Neighborhood: Red Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10342211

* 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
Red Mountain Ranch Elementary School Primary Regular 541 24 7
Red Mountain Ranch Elementary School Middle Regular 541 24 7
Red Mountain High School High Regular 3,347 145 7

Red Mountain Ranch Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 24
7
GreatSchools Rating

Red Mountain Ranch Elementary School

  • Education Level: Middle
  • # of students: 541
  • # of teachers: 24
7
GreatSchools Rating

Red Mountain High School

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

$386,100$471,900$429,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,583
Property Tax -$223
Property Insurance -$74
HOA -$25
Property Management Fees -$99
CASH FLOW
$437

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.

$429,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$81,569

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
  • $1,982

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,7494$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 6349 E Redmont Drive Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6011 E Sierra Blanca Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 1993
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 3611 N Santiago Circle Mesa, AZ 3
    • 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 1995
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.84
    •  
  • 6221 E Sierra Morena Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 1994
    property image
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 6015 E Sayan Circle Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1995
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
PROPERTY LISTING DETAILS
Larry Rubino
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176511
Last Updated: 01/03/2021
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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