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7656 E Downing Street Mesa, AZ 85207

3 Beds 2 Baths 1,964 sqft Built 2000

$349,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $178.16
  • 4 Days on Market
  • MLS # : 6154667
  • Updated Date : 10/31/2020 at 16:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,964 sqft
  • Baths : 2 full
Listing Agent

Ran Realty & Property Management

Listing Agent's Description

Lots of square footage for the money over 1900 square feet.Red mountain park is just around the corner. 3 bedroom, 2 bath split floor planSeparate den/office and formal dining. Large great room floor plan.. Separate tub and shower in the master bath. Walk in closet.Priced below market.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Adobe Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k278k

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

Neighborhood: Adobe Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21050110011501200125013001350140014501500155016001650Rent in $10181691

* 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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,291
Property Tax -$219
Property Insurance -$65
HOA -$42
Property Management Fees -$99
CASH FLOW
-$86

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.

$349,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.2%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,701

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
  • $1,763

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$1,7504$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 7656 E Downing Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7640 E Barstow Street Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2003
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 141 N Greenwood -- Mesa, AZ 3
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2003
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 8160 E Enrose Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 1997
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 8111 E Encanto Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1997
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Thomas E. Rizen
Ran Realty & Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154667
Last Updated: 10/31/2020
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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