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6639 E Des Moines Street Mesa, AZ 85205

2 Beds 2 Baths 1,540 sqft Built 1974

$249,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $162.27
  • 3 Days on Market
  • MLS # : 6170474
  • Updated Date : 12/12/2020 at 11:08
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,540 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Charming 2 bed, 1.75 bath home w/ 2-car garage in Dreamland Villa Retirement Community - an age restricted community, with voluntary, low-cost membership fees. Step into the open living/dining room combo with large picture window to provide natural light. The kitchen offers ample cabinet storage with built-in microwave and wall oven, along with a quaint eating counter. Spread out to the den or adjacent Arizona Room, both boasting beautiful wood laminate flooring. Fresh paint and ceiling fans throughout. Spacious bedrooms w/ ample closet space, open to hallway with 2 additional storage closets. Oversized laundry room w/ sink and large private storage closet w/ cabinetry and shelving. Huge covered patios to enjoy the Arizona weather, overlooking mature citrus trees. Backyard features

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$922
Property Tax -$147
Property Insurance -$57
HOA -$14
Property Management Fees -$99
CASH FLOW
$71

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.

$249,900

PROJECTED PRICE

$1,310

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$14k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$25,144

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
  • $1,417

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,3994$1,4005$1,550
$1,550
RENT COMPS ANALYSIS
  • 6639 E Des Moines Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,540 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,540 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6522 E Boston Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,577 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,577 Sqft ∙ Built 1978
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 6528 E Barstow Street Mesa, AZ 3
    • 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,612 Sqft ∙ Built 1979
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
  • 864 N 64th Street Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,608 Sqft ∙ Built 1972 2 beds 2 baths ∙ 1,608 Sqft ∙ Built 1972
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 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
Shivani A Dallas
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170474
Last Updated: 12/12/2020
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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