Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7245 E Greenway Street Mesa, AZ 85207

4 Beds 3 Baths 2,501 sqft Built 1986

$397,500

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $158.94
  • 4 Days on Market
  • MLS # : 6146780
  • Updated Date : 11/05/2020 at 02:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,501 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful house with huge vaulted ceilings right when you enter! Nicely painted exterior. This home could be 3bed or 4bed with 3 bathrooms. Three of the bedrooms on the top-level w/Kitchen. Downstairs 1/2 submerged underground is a private master bedroom w/an armoire closet & a separate entrance that can easily be made into a bonus room, 1/2 submerged basement or use it for guests. There are 2 separate outside patio areas on a huge lot making it easy to entertain. ONLY 1 neighbor on corner lot. NO HOA and there is an RV gate for you to park your boat or trailer.Interior recently updated. Carpet, flooring, partial bathrooms, and kitchen have been updated. Come check this house out today!

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
 

$357,750$437,250$397,500

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,467
Property Tax -$206
Property Insurance -$76
Property Management Fees -$99
CASH FLOW
$122

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.

$397,500

PROJECTED PRICE

$1,970

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$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$111,088

INVESTMENT

$111,088

Down Payment
$99,375
Rehab Estimate
$5,750
Closing Costs
$5,963

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,467

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,375
Loan Amount $298,125
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$43,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,182

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,9003$1,9704$2,0245$2,100
$2,100
RENT COMPS ANALYSIS
  • 7245 E Greenway Street Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.79
    •  
  • 7250 E Gary Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 2,189 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,189 Sqft ∙ Built 1986
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.79
    •  
  • 1010 N Gila Verde Street Mesa, AZ 2
    • 4 beds 2 baths ∙ 2,354 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,354 Sqft ∙ Built 1990
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 6124 E Ingram Street Mesa, AZ 4
    • 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 1987 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 1987
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,024
    • $0.92
    •  
  • 1848 N 67th Street Mesa, AZ 5
    • 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 1986 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 1986
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Dara Wieser
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6146780
Last Updated: 11/05/2020
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.

BESbswy