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7749 E Covina Street Mesa, AZ 85207

3 Beds 2 Baths 1,374 sqft Built 1997

$375,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $272.93
  • 1 Days on Market
  • MLS # : 6203708
  • Updated Date : 03/07/2021 at 04:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,374 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Garden Real Estate Move Time Realty

Listing Agent's Description

THIS 3 BED, 2 BATH WELL CARED FOR HOME BACKS TO GREENBELT AND OFFERS A PRIVATE, SERENE BACKYARD WITH BEAUTIFUL SELF CLEANING HEATED PEBBLE TEC POOL AND WATERFALL. OTHER FEATURES INCLUDE A LARGE COVERED PATIO, RV GATE ON LARGE LOT FOR ALL YOUR TOYS, OPEN FEEL FLOORPLAN WITH VAULTED CEILINGS, BAY WINDOWS, UPGRADED FIXTURES AND CEILING FANS, SUNSCREENS, NEW ENERGY EFFICIENT PELLA DUAL-PANE WINDOWS, UPGRADED CARPET,KITCHEN FEATURES INCLUDE GRANITE COUNTERTOPS, 36'' CHERRY CABINETS, GAS RANGE, BREAKFAST BAR, UPGRADED SINK AND FAUCET, SIDE BY SIDE FRIDGE & PANTRY. ADDITIONAL ROOM OFF GARGE COULD BE CRAFT AREA, EXTRA PANTRY ROOM OR HOBBY AREA. UPGRADED GLASS SLIDING DOORS TO PATIO, SECUIRTY SCREEN, NEW ROOF 2019, NEW GOODMAN A/C, 3 CAR GARAGE W STORAGE & WORK AREA- ALL THIS AND MORE! NO HOA

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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,303
Property Tax -$234
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$190

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.

$375,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.40%

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-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,275

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
  • $1,498

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3254$1,5995$1,750
$1,750
RENT COMPS ANALYSIS
  • 7749 E Covina Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 142 N 86th Place Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,114 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,114 Sqft ∙ Built 2000
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.12
    •  
  • 536 N 82nd Street Mesa, AZ 3
    • 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
    •  
  • 8064 E Fox Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1993
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.14
    •  
  • 7648 E Boise Street Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2003
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jacqueline Black-hogue
Better Homes & Garden Real Estate Move Time Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203708
Last Updated: 03/07/2021
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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