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6720 E Encanto Street #60 Mesa, AZ 85205

2 Beds 2 Baths 1,596 sqft Built 2001

$295,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $184.84
  • 2 Days on Market
  • MLS # : 6173057
  • Updated Date : 12/19/2020 at 13:49
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Come fall in love with this 2 bedroom, 2 bathroom, 2 car garage, plus den beautiful and well-cared for townhome. Enter into the generous great room open to kitchen and dining. Kitchen includes replaced cabinets, black appliances, granite counters, and under cabinet lighting. Off the great room is a den with custom built-in bookshelves and desk. Unwind on the back patio or putter around on the putting green. Large owner's suite with owner's bath and walk-in closet. Owner's bath features a tiled shower with glass surround. An additional bed and bath are down the hall as is the laundry. All appliances convey. Luxury vinyl plank throughout most of the home.

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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,088
Property Tax -$153
Property Insurance -$58
HOA -$204
Property Management Fees -$99
CASH FLOW
-$73

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.

$295,000

PROJECTED PRICE

$1,530

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,792

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
  • $1,537

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3753$1,4504$1,450
$1,450
RENT COMPS ANALYSIS
  • 6720 E Encanto Street #60 Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,596 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,596 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1235 N Sunnyvale Street #86 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 1986
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 6710 E University Drive #103 Mesa, AZ 3
    • 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 6720 E Encanto Street #5 Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,596 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,596 Sqft ∙ Built 2002
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kimberly R Bridges
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173057
Last Updated: 12/19/2020
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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