Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

643 E Harmony Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,092 sqft Built 1975

$235,000

List Price

$1,130

$1K - $1.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $215.20
  • 2 Days on Market
  • MLS # : 6157650
  • Updated Date : 11/07/2020 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Perfect starter! 3 bed, 2 bath property located in Mesa is now on the market! Featuring a charming facade with 1 carport parking space and an RV gate, you simply have to come see it for yourself! Inside you will find dining and living areas with neutral paint throughout, as well as a lovely kitchen equipped with everything you need for home cooking, ample cabinetry, granite countertops, stainless steel appliances, and an island complete with a breakfast bar. The master bedroom has a private bath and a spacious closet with sliding mirror doors. Also including a large backyard with tons of potential for customizing it any way you can imagine, this home simply has it all! Hurry and show today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k271k

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Mesa High School High Regular 3,406 155 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

Mesa High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,017$1,243$1,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,130
EXPENSES Loan Payment -$867
Property Tax -$122
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$6

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.

$235,000

PROJECTED PRICE

$1,130

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$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$12k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,130

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,147

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,130
1$1,1302$1,1753$1,450
$1,450
RENT COMPS ANALYSIS
  • 643 E Harmony Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,130
    • $1.03
    •  
  • 1327 S Allen -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1980
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.05
    •  
  • 1028 W Hudson Way Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1995
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nathan Cannon
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157650
Last Updated: 11/07/2020
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.

BESbswy