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734 E 6th Street Mesa, AZ 85203

3 Beds 2 Baths 1,841 sqft Built 1960

$344,999

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $187.40
  • 5 Days on Market
  • MLS # : 6189796
  • Updated Date : 02/10/2021 at 15:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,841 sqft
  • Baths : 2 full
Listing Agent

Stunning Homes Realty

Listing Agent's Description

Remodeled Single Level 3 bed 2 bath home. This home has new tile and carpet, New tile bathrooms, updated plumbing, updated vanities and fixtures. Open living room area that flows into the kitchen. This home has a nice size yard and rv gate. Newly painted and ready for someone to call it home. Home is 10 min from Tempe Marketplace, Sloan Park Come See it before its gone.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* 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
Kino Junior High School Middle Regular 1,020 49 3
Westwood High School High Regular 3,131 145 4

Kino Junior High School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 49
3
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$310,499$379,499$344,999

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,198
Property Tax -$179
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$11

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.

$344,999

PROJECTED PRICE

$1,550

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,749
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4753$1,5504$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 734 E 6th Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 1240 N Freestone Circle Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1980
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 433 S Pioneer -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.93
    •  
  • 956 E 9th Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1971
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 61 S Temple Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ramon J Nunez
Stunning Homes Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189796
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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