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6660 E Saddleback Street Mesa, AZ 85215

3 Beds 2 Baths 1,700 sqft Built 1993

$359,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $211.18
  • 4 Days on Market
  • MLS # : 6159531
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Wow! A fantastic home at a fantastic price! This charming home offers everything you need! Updated eat in kitchen with white cabinetry, center island, stainless appliances and granite! Large family room off kitchen plus a formal living/dining room. This spacious backyard offers play pool, covered patio and low maintenance landscape. The home shows bright and airy with lots of windows and vaulted ceilings. Red Mountain Ranch is a beautiful community that features a golf course, walking trails, restaurant, playgrounds and this property is a short walk to Red Mountain elementary. The HOA includes front yard maintenance and basic cable. For a separate fee you can join the social membership which includes gym, pool, tennis courts, etc. Furniture is also available on a separate bill of sale.

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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,325
Property Tax -$186
Property Insurance -$60
HOA -$27
Property Management Fees -$99
CASH FLOW
$113

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.

$359,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$0.0$5.0k$10k$15k$20k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$37,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,8104$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 6660 E Saddleback Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.06
    •  
  • 6647 E Roland Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 6504 E Raftriver Street Mesa, AZ 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
    •  
  • 6510 E Raftriver Street Mesa, AZ 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, AZ 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
Becky Engstrom
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159531
Last Updated: 11/13/2020
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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