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PROPERTY INFO
FACTS
- Single Family
- Built In 1968
- Price/Sqft : $226.88
- 4 Days on Market
- MLS # : 6175979
- Updated Date : 01/01/2021 at 23:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,168 sqft
- Baths : 1 full
Listing Agent
Re/max Solutions
Listing Agent's Description
*******INVESTMENT home and property below market******* If you are looking for a great income property with Lots of potential,here it is! Lots to offer like: nobody behind you, Super size lot(see photos), 2 car covered carport, county island area! This is a smaller solid block home in a larger home community. Perfect for expansion. NO HOA so you can park RV, work truck and have nobody bothering you with this size lot. Owner has a larger brand new 7K AC unit and had roof done as well(see documents tab) With a little love and TLC this is the neighborhood for increased values, PEOPLE love this quiet area and the Cul De Sac makes it even better. Just plan on a complete update and see the benifits of this area and neighborhood3rd room is more of a storage extra room + seperate laundry
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PRICE & RENT TRENDS
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,260 |
| EXPENSES | Loan Payment | -$978 |
| Property Tax | -$139 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$6
|
||
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.
$265,000
PROJECTED PRICE
$1,260
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$75,975
LOAN DETAILS
$978
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $66,250 |
| Loan Amount | $198,750 |
5.67
YEARS SAVED
$19,644
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,277
COMP ESTIMATED VALUE -
$1.09
COMP AVG. RENT PER SQFT
Comps Range
-
7713 E Akron Street Mesa, AZ 1
- 3 beds 1 baths ∙ 1,168 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,168 Sqft ∙ Built 1968
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1429 N Sterling -- Mesa, AZ 2
- 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1986
LEASED 06/16/20- Rent
- Rent Per SQFT
- $1,350
- $1.15
-
6307 E Covina Street Mesa, AZ 3
- 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1988
LEASED 11/05/20- Rent
- Rent Per SQFT
- $1,535
- $1.05
-
924 S Longwood Loop Mesa, AZ 4
- 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1962
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,585
- $1.08
PROPERTY LISTING DETAILS
Re/max Solutions
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6175979
Last Updated: 01/01/2021
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.
