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6742 E Billings Street Mesa, AZ 85205

2 Beds 1 Baths 967 sqft Built 1960

$285,000

List Price

$1,020

$918 - $1.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $294.73
  • 2 Days on Market
  • MLS # : 6183367
  • Updated Date : 01/30/2021 at 23:47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 967 sqft
  • Baths : 1 full
Listing Agent

Realty Executives

Listing Agent's Description

READY TO MOVE IN,GRACEFUL 2BEDROOM HOME WITH GREAT ROOM, NICE KITCHEN, ARIZONA ROOM, LAUNDRY/STORAGE ROOM. ONE CAR GARAGE AT MAIN HOUSE PLUS A 2 CAR DETACHED GARAGE FINISHED INSIDE WITH A BATH, COULD BE COVERED TO MOTHER IN LAW SUITE OR GUEST HOUSE. R.V. PARKING AND GATE, HUGE LOT AND ON CORNER. ONE MILE FROM ARIZONA GOLF RESORT. BY APPOINTMENT ONLY AFTER 3:30PM. 3 MILES FROM THE 202 AND THE 60. CLOSE TO THE MALL. CLOSE TO HOSPITALS.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$918$1,122$1,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,020
EXPENSES Loan Payment -$990
Property Tax -$150
Property Insurance -$46
Property Management Fees -$99
CASH FLOW
-$265

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,020

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,036

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
  • $1,020

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7503$9494$1,2955$1,295
$1,295
RENT COMPS ANALYSIS
  • 6742 E Billings Street Mesa, AZ 1
    • 2 beds 1 baths ∙ 967 Sqft ∙ Built 1960 2 beds 1 baths ∙ 967 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6407 E Avalon Street #b Mesa, AZ 2
    • 2 beds 1 baths ∙ 727 Sqft ∙ Built 1970 2 beds 1 baths ∙ 727 Sqft ∙ Built 1970
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $1.03
    •  
  • 6751 E Alder Avenue Mesa, AZ 3
    • 2 beds 1 baths ∙ 952 Sqft ∙ Built 1949 2 beds 1 baths ∙ 952 Sqft ∙ Built 1949
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $949
    • $1.00
    •  
  • 645 N 63rd Place Mesa, AZ 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Jesus Pino Perez
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183367
Last Updated: 01/30/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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