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7623 E Barstow Street Mesa, AZ 85207

3 Beds 3 Baths 1,591 sqft Built 2003

$280,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $175.99
  • 2 Days on Market
  • MLS # : 6181176
  • Updated Date : 01/16/2021 at 19:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,591 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This adorable corner lot home is located inside a gated community and is just waiting for you! Enjoy a spacious floor plan and great back yard that is perfect for your bbq's! Garage has built in cabinets and plenty of room for storage. Owner's suite and bedrooms are upstairs, with all living areas down. The community features a pool, parks, basketball court, ramada with BBQ's and play areas. Bring everyone to see!

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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$973
Property Tax -$145
Property Insurance -$58
HOA -$110
Property Management Fees -$99
CASH FLOW
$65

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.

$280,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.52%

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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$21,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,543

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,4504$1,5505$1,795
$1,795
RENT COMPS ANALYSIS
  • 7623 E Barstow Street Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 536 N 82nd Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1993
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.00
    •  
  • 216 N 76th Place Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2002
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 7640 E Barstow Street Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 7531 E Billings Street #145 Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2020
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Carla Magee
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181176
Last Updated: 01/16/2021
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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