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6602 E Des Moines Street Mesa, AZ 85205

2 Beds 2 Baths 1,122 sqft Built 1975

$228,500

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $203.65
  • 4 Days on Market
  • MLS # : 6154456
  • Updated Date : 11/01/2020 at 20:46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,122 sqft
  • Baths : 2 full
Listing Agent

Axis Property Advisors

Listing Agent's Description

The curb appeal, including a covered front porch here are both eye catchers with this very clean, well maintained and charming 2-bedroom, 2-bathroom home with 1,122 SqFt living space in East Mesa (Encanto neighborhood). You're only a few upgrades away to your lovely home in this quiet and incredibly friendly neighborhood (55+ community, not an HOA). Built in 1975 by Farnsworth on 0.192 acres (an 8,343 SqFt lot), you'll also enjoy a 2-car garage, an enclosed bonus room with A/C, a large, separate laundry room and the comfortable Arizona room (north side) with an additional covered patio. The desert-style landscaping is very easy to maintain, and a garden shed is also available. All kitchen appliances and the washer and dryer convey.

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
 

$205,650$251,350$228,500

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$843
Property Tax -$135
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
$24

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.

$228,500

PROJECTED PRICE

$1,150

PROJECTED RENT

0.50%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,303

INVESTMENT

$66,303

Down Payment
$57,125
Rehab Estimate
$5,750
Closing Costs
$3,428

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$843

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,125
Loan Amount $171,375
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$19,120

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
  • $1,203

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8503$1,2954$1,2955$1,550
$1,550
RENT COMPS ANALYSIS
  • 6602 E Des Moines Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,122 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,122 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 47 N 67th Street #3 Mesa, AZ 2
    • 2 beds 1 baths ∙ 837 Sqft ∙ Built 1983 2 beds 1 baths ∙ 837 Sqft ∙ Built 1983
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $1.02
    •  
  • 645 N 63rd Place Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1971
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.12
    •  
  • 6257 E Dodge Street Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 1970
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
  • 6551 E Des Moines Street Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,432 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,432 Sqft ∙ Built 1975
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
PROPERTY LISTING DETAILS
Jason Sellers
Axis Property Advisors
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154456
Last Updated: 11/01/2020
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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