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638 S Macdonald -- Mesa, AZ 85210

4 Beds 2 Baths 1,088 sqft Built 1940

$219,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $201.29
  • 4 Days on Market
  • MLS # : 6167195
  • Updated Date : 12/05/2020 at 19:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,088 sqft
  • Baths : 2 full
Listing Agent

Nexgen Real Estate

Listing Agent's Description

Remodeled house with 3 beds and 1 bath in the main house. Also, has a guess house with 1 bed, 1 full bathroom and kitchen. In addition, has plenty of storage outside and parking with No HOA!! This house its centrally located in Old downtown Mesa, close to shopping, restaurants and schools. Finally, its close to 202 freeway and Country Club Dr. House Sold AS IS.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Nuestro

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $76k271k

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

Neighborhood: Nuestro

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6151567

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Dobson High School High Regular 2,639 122 4

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$197,100$240,900$219,000

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$808
Property Tax -$114
Property Insurance -$48
Property Management Fees -$99
CASH FLOW
-$19

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.

$219,000

PROJECTED PRICE

$1,050

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,526

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,104

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2953$1,355
$1,355
RENT COMPS ANALYSIS
  • 638 S Macdonald -- Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,088 Sqft ∙ Built 1940 4 beds 2 baths ∙ 1,088 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.97
    •  
  • 315 E 7th Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1950
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.02
    •  
  • 573 N Sirrine -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940
    property image
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,355
    • $1.01
    •  
PROPERTY LISTING DETAILS
Analia Cool
Nexgen Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167195
Last Updated: 12/05/2020
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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