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714 W 6th Drive Mesa, AZ 85210

4 Beds 2 Baths 1,798 sqft Built 1957

INVESTimate

$319,900

List Price

$1,370

$1,233 - $1,507

Rent Est.

$356,273  ( +11.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $177.92
  • 8 Days on Market
  • MLS # : 6119652
  • Updated Date : 08/21/2020 at 17:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,798 sqft
  • Baths : 2 full
Listing Agent

Silva Realty

Listing Agent's Description

1/3 OF AN ACRE, IRRIGATED NEAR THE HEART OF MESA. NICE MATURE FRUIT TREES . NICE AND CLEAN. OPEN FLOOR PLAN READY TO MOVE IN.

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PRICE & RENT TRENDS

Neighborhood: Kleinman Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $68k271k

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

Neighborhood: Kleinman Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7181567

* 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
Dobson High School High Regular 2,639 122 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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,180
Property Tax -$166
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$138

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.

$319,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,981

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
  • $1,470

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3003$1,3494$1,4505$1,600
$1,600
RENT COMPS ANALYSIS
  • 714 W 6th Drive Mesa, 1
    • 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 837 S Vineyard -- Mesa, 2
    • 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1977
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.78
    •  
  • 1649 W Pueblo Avenue Mesa, 3
    • 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 1961
    property image
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.84
    •  
  • 120 S Lebaron -- Mesa, 4
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1955
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 49 W Beall Avenue Mesa, 5
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1968
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Maria A. Silva
Silva Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119652
Last Updated: 08/21/2020
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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