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6351 E Regina Street Mesa, AZ 85215

3 Beds 2 Baths 1,542 sqft Built 1994

$349,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $226.91
  • 3 Days on Market
  • MLS # : 6185004
  • Updated Date : 01/29/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,542 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Don't miss out on this beautiful and immaculate 3 bedroom, 2 bath Mesa home located in the highly sought after Red Mountain Ranch Community. This split floor plan home features separate living room and family room, large open kitchen with newer granite counter tops,stainless steel sink with pull out faucet and a newer microwave. Master bedroom includes large master bath with double sinks as well as separate tub and shower. Backyard has a large covered patio that features three ceiling fans so you can still entertain guests on those hot summer days. Home is situated close to multiple parks, golf courses, and the Red Mountain Ranch community pool.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Summit

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Neighborhood: Summit

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,215
Property Tax -$182
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$47

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.

$349,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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 45% 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

6.17

YEARS SAVED

$24,585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,600

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6504$1,6755$1,795
$1,795
RENT COMPS ANALYSIS
  • 6351 E Regina Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 6647 E Roland Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 6641 E Roland Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2003
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 6119 E Sierra Morena Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1996
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.05
    •  
  • 3427 N Sericin -- Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2001
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.05
    •  
PROPERTY LISTING DETAILS
Joshua Woyak
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185004
Last Updated: 01/29/2021
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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