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6453 E Raftriver Street Mesa, AZ 85215

3 Beds 2 Baths 1,700 sqft Built 1992

INVESTimate

$345,000

List Price

$1,760

$1,584 - $1,936

Rent Est.

$358,800  ( +4.00%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $202.94
  • 5 Days on Market
  • MLS # : 6121463
  • Updated Date : 08/22/2020 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Re/max Solutions

Listing Agent's Description

This is the beautiful golf course lot home you have been looking for! Great room layout with lovely fireplace, vaulted ceilings, 3 bed, 2 bath, and plantation shutters on every window. Fabulous kitchen is outfitted with all white matching appliances, pantry, solid surface counters, breakfast bar, and plenty of the popular white cabinets. The roomy master retreat has private exit, walk-in closet, and full bath comprised of dual sinks & separate tub/shower. In backyard, spend the evenings relaxing under the covered patio and gazing at the fabulous golf course. Don't forget about the built-in cabinets in the garage for extra storage! Schedule a showing before it is 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,273
Property Tax -$179
Property Insurance -$60
HOA -$160
Property Management Fees -$99
CASH FLOW
-$11

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.

$345,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.00%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$21,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,755

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,6504$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 6453 E Raftriver Street Mesa, 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6504 E Raftriver Street Mesa, 2
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 6324 E Rochelle Street Mesa, 3
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1994
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 6510 E Raftriver Street Mesa, 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 6606 E Saddleback Street Mesa, 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1992
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.11
    •  
PROPERTY LISTING DETAILS
Michael Kent
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121463
Last Updated: 08/22/2020
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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