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6435 E Akron Street Mesa, AZ 85205

3 Beds 2 Baths 1,437 sqft Built 1953

$309,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $215.03
  • 3 Days on Market
  • MLS # : 6193758
  • Updated Date : 02/13/2021 at 21:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,437 sqft
  • Baths : 2 full
Listing Agent

Century 21 Northwest

Listing Agent's Description

Huge 17,854 sq ft lot with unlimited possibilities with a 3 bed, 2 bath home, with extra space for a 4th bedroom. Ceramic tile floors throughout the home . The updated kitchen has custom cabinets, quartz counters, tiled backsplash,. Bedrooms have new carpeting & ceiling fans. Updated bathrooms. RV gate .Close to shopping, dining, medical, and the 202.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

* 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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Red Mountain High School

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

$278,100$339,900$309,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,073
Property Tax -$182
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$110

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.

$309,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.42%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,437

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,3003$1,5854$1,750
$1,750
RENT COMPS ANALYSIS
  • 6435 E Akron Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 6407 E Avalon Street #a Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1970
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.88
    •  
  • 924 S Longwood Loop Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1962
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.08
    •  
  • 6942 E Exmoor Drive Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1961
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Angel Severian
Century 21 Northwest
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193758
Last Updated: 02/13/2021
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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