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7713 E Akron Street Mesa, AZ 85207

3 Beds 1 Baths 1,168 sqft Built 1968

$265,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
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

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

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

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

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.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,277

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,5354$1,585
$1,585
RENT COMPS ANALYSIS
  • 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
Troy Reeves
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175979
Last Updated: 01/01/2021
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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