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7840 E Billings Street Mesa, AZ 85207

2 Beds 2 Baths 1,643 sqft Built 2017

$360,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $219.11
  • 3 Days on Market
  • MLS # : 6189483
  • Updated Date : 02/07/2021 at 02:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent

Re/max Solutions

Listing Agent's Description

Amazing east valley location, this home you don't want to miss out on. This home is immaculate and has upgrades everywhere. The kitchen has quartz countertops, tile backsplash, island with breakfast bar, double wall ovens, and stainless steel appliances. The cozy master bedroom includes a neutral paint and large en-suite bathroom with double sinks and walk-in shower. Easy to maintain landscaping in front & back yards. Schedule a showing today.

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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,250
Property Tax -$187
Property Insurance -$59
HOA -$94
Property Management Fees -$99
CASH FLOW
-$129

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.

$360,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.43%

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,648

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4504$1,560
$1,560
RENT COMPS ANALYSIS
  • 7840 E Billings Street Mesa, AZ 4
    • 2 beds 2 baths ∙ 1,643 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,643 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.95
    •  
  • 6710 E University Drive #142 Mesa, AZ 1
    • 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 7727 E Butte Street Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,437 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,437 Sqft ∙ Built 2004
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 6710 E University Drive #103 Mesa, AZ 3
    • 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,456 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michael Kent
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189483
Last Updated: 02/07/2021
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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