Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7840 E Butte Street Mesa, AZ 85207

2 Beds 2 Baths 1,643 sqft Built 2017

$370,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $225.20
  • 3 Days on Market
  • MLS # : 6199490
  • Updated Date : 02/26/2021 at 19:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent

Denman Realty Group, L.l.c

Listing Agent's Description

Beautiful Mesa home has been immaculately maintained. Pride of ownership is apparent just upon your walk up the steps to the front door! Home features 9 foot ceilings throughout, with 8 foot doors. Neutral paint colors and wood plank tile flooring. This kitchen is amazing with granite countertops, huge island, gas range. This home you will not believe the upgrades. Turn Key!!! Close to schools, shopping, recreation area (lakes), freeways, schools, parks, you name it and this location has it.

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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,285
Property Tax -$192
Property Insurance -$59
HOA -$1
Property Management Fees -$99
CASH FLOW
-$156

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.

$370,000

PROJECTED PRICE

$1,480

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$14k

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,332

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
  • $1,565

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,4504$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 7840 E Butte Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,643 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,643 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 205 N 74th Street #202 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2001
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 7727 E Butte Street Mesa, AZ 3
    • 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 4
    • 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
    •  
  • 6720 E Encanto Street #5 Mesa, AZ 5
    • 2 beds 2 baths ∙ 1,596 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,596 Sqft ∙ Built 2002
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Darren Passey
Denman Realty Group, L.l.c
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199490
Last Updated: 02/26/2021
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.

BESbswy