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6931 E Minton Street Mesa, AZ 85207

3 Beds 2 Baths 2,350 sqft Built 2001

$449,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $191.45
  • 5 Days on Market
  • MLS # : 6153001
  • Updated Date : 11/02/2020 at 11:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,350 sqft
  • Baths : 2 full
Listing Agent

Corcoran Platinum Living

Listing Agent's Description

Amazing single story home with open floor plan and vaulted ceilings. Conveniently close to the 202 and NO HOA. Living room with gas fireplace. Split bedrooms with Master bedroom on opposite side of house from other bedrooms and bathrooms. 3 car garage with workbench and cabinets. Large eat-in kitchen with island and plenty of counter and cabinet space. Dining room open to living room. Large bay windows in both dining areas. Enjoy large backyard with covered patio. Extended parking in front of double gate leading to backyard paved area to park an RV, boat or other cars. House was built with special insulation/coating to the stucco to insulate and protect exterior. Original owner!

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
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
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,660
Property Tax -$233
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$35

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.

$449,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.45%

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

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$30,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,332

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0304$2,0985$2,550
$2,550
RENT COMPS ANALYSIS
  • 6931 E Minton Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.86
    •  
  • 2934 N 71st Place Mesa, AZ 1
    • 3 beds 4 baths ∙ 2,023 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,023 Sqft ∙ Built 2016
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 3055 N Red Mountain #138 Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1996
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 2946 N 71st Place Mesa, AZ 4
    • 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
    •  
  • 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
Twila Edwards
Corcoran Platinum Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153001
Last Updated: 11/02/2020
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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