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709 E Holmes Avenue Mesa, AZ 85204

4 Beds 2 Baths 1,456 sqft Built 1975

$270,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $185.44
  • 5 Days on Market
  • MLS # : 6180335
  • Updated Date : 01/14/2021 at 20:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,456 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Single story home featuring 4 bedrooms, 2 bathrooms. 4th bedroom is converted carport. Inside laundry room. Lots of tile for low maintenance. Backyard features sparkling pool and shed. A/C and roof are approximately 10 years old. This home has been an excellent rental property with a long term tenant. Single story with easy access to the us-60. Excellent Mesa location.

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PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k271k

* 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
Mesa High School High Regular 3,406 155 4

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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$938
Property Tax -$140
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
$108

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.

$270,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,779

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
  • $1,434

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,4954$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 709 E Holmes Avenue Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1050 S Stapley Drive #1 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 1559 E Flower Circle Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 1333 E Grove Circle Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1979
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 536 E Harmony Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Cari Gililland
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180335
Last Updated: 01/14/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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