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6431 E Raftriver Street Mesa, AZ 85215

2 Beds 2 Baths 1,729 sqft Built 1990

$339,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $196.59
  • 3 Days on Market
  • MLS # : 6152309
  • Updated Date : 11/13/2020 at 21:16
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,729 sqft
  • Baths : 2 full
Listing Agent

Opportunity 2 Own Real Estate

Listing Agent's Description

Looking for a fabulous location in Mesa? Look no further--Red Mountain Ranch is amazing and super convenient to the 202 freeway system, excellent schools and affordable HOA! This is a chance to buy under $350K and make it the home of your dreams. Needs updated flooring, appliances but freshly painted ready to move in to! Currently a 2 bedroom with a den, can easily be converted to the 3 bedroom model and has a lot of sq ft at almost 1800--nice back yard with a view of the golf course. New garage door just installed and roof work complete. Check it now before it's gone.

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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Red Mountain High School High Regular 3,347 145 7

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

Red Mountain High School

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

$305,910$373,890$339,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,254
Property Tax -$176
Property Insurance -$61
HOA -$27
Property Management Fees -$99
CASH FLOW
$43

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.

$339,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.49%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$28,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,648

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4453$1,6604$1,700
$1,700
RENT COMPS ANALYSIS
  • 6431 E Raftriver Street Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,729 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,729 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.96
    •  
  • 2459 N Augusta Drive Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,576 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,576 Sqft ∙ Built 1978
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.88
    •  
  • 6262 E Nance Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.98
    •  
  • 6334 E Viewmont Drive #39 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,695 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,695 Sqft ∙ Built 1995
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jeanie Teyechea
Opportunity 2 Own Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152309
Last Updated: 11/13/2020
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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