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6851 E Menlo Street Mesa, AZ 85207

3 Beds 3 Baths 2,200 sqft Built 1999

$585,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $265.91
  • 5 Days on Market
  • MLS # : 6192262
  • Updated Date : 02/10/2021 at 16:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Well-maintained single level custom home on almost 1/2 acre w/No HOA.Open concept split floor plan that offers Large master bedroom, bed 2&3 have Jack & Jill bath, plus there is a large den/office , 1/2 bath/powder room, Built in niches & recessed lighting. Efficient kitchen includes beautiful Custom made Pecan wood cabinets, walk-in pantry, and corian countertops. The double-door master bedroom features an exit to the back and a lovely bathroom with double-sink vanity, custom Pecan cabinets, separate tub, step-in shower, private toilet room, & a walk-in closet. Enjoy your morning coffee & relaxing afternoons in your spacious backyard lush landscaping, gardens, covered patio, jacuzzi, natural grass, and fruit trees. Separate Storage yard on West side of this 1/2 acre lot with storage cont

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k322k

* 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
 

$526,500$643,500$585,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$2,032
Property Tax -$304
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
-$505

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.

$585,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.34%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,250

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,838
1$1,8382$2,0003$2,0984$2,2005$2,550
$2,550
RENT COMPS ANALYSIS
  • 6851 E Menlo Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 2941 N Sonoran Hills -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2016
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,838
    • $0.91
    •  
  • 2946 N 71st Place Mesa, AZ 3
    • 3 beds 4 baths ∙ 2,087 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,087 Sqft ∙ Built 2016
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,098
    • $1.01
    •  
  • 7360 E Norwood Street Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 6638 E Melrose Street Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1994
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.09
    •  
PROPERTY LISTING DETAILS
Cindy D Desanti White
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192262
Last Updated: 02/10/2021
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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