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6440 E Duncan Street Mesa, AZ 85205

3 Beds 2 Baths 1,546 sqft Built 1973

$239,500

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $154.92
  • 3 Days on Market
  • MLS # : 6165203
  • Updated Date : 11/27/2020 at 15:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Looking for a hard-to-find 3 Bedroom in Mesa's favorite 55+ community? This single-level brick home is nestled in the friendly and energetic retirement community of Dreamland Villa. This home features 3 Bedrooms 2 baths, a large front porch, 2 car garage, low maintenance yard, and a light & bright interior. You will also find an enclosed Arizona room, a formal dining room, large laundry room, and no interior popcorn ceilings! The Dreamland Villa HOA is voluntary. The optional membership is $175 annually w/ a one-time transfer fee. Membership will get you full access to all the Dreamland amenities including the Clubhouse, 2 heated pools/spas, tennis courts, library, halls & events, shuffleboard courts and more. Come see it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Encanto

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Fremont Junior High School High Regular 976 48 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

Fremont Junior High School

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

$215,550$263,450$239,500

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$884
Property Tax -$141
Property Insurance -$57
HOA -$14
Property Management Fees -$99
CASH FLOW
$55

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.

$239,500

PROJECTED PRICE

$1,250

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 5.7%
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$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$69,218

INVESTMENT

$69,218

Down Payment
$59,875
Rehab Estimate
$5,750
Closing Costs
$3,593

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$884

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,875
Loan Amount $179,625
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$22,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,391

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,3004$1,4505$1,800
$1,800
RENT COMPS ANALYSIS
  • 6440 E Duncan Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.81
    •  
  • 6262 E Brown Road #87 Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1990
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 6559 E Dallas Street Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1974
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.85
    •  
  • 940 N Sericin Circle Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1988
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 6348 E Fairfield Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1986
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Reigh Dempsey
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165203
Last Updated: 11/27/2020
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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