638 S Extension Rd
West Mesa · Mesa, AZ 85210 · Single-family
- Price
- $349,000
- Est. rent / mo
- $2,010
- Est. cap rate
- 4.10%
- Est. cash-on-cash
- -6.32%
- Est. DSCR
- 0.70
- Rent / price
- 0.576%
- $ / sq ft
- $238
- Est. cash flow / mo
- -$505
At the baseline set: 25% down, 6.75%, 30-year amortisation. Estimates.
Representative stock photography of Phoenix-metro residential product. These images do not depict this address.
The read
Permitted sun-room addition is included in the stated area and is on the assessor record — check that before underwriting any addition as living space.
- Single price cut
- Sun room addition (permitted)
- Mature citrus
- No HOA
Facts
| Property type | Single-family |
|---|---|
| Units | 1 |
| Bedrooms / bathrooms | 3 / 2 |
| Living area | 1,465 sq ft |
| Lot | 7,405 sq ft |
| Year built | 1976 (50 yrs) |
| Stories | 1 |
| Parking | 2-car garage |
| Coordinates | 33.4192, -111.8600 |
| Property tax / yr | $1,810 |
|---|---|
| Insurance / yr | $1,660 |
| HOA / mo | None |
| Other fixed / yr | $360 |
| Total est. operating / yr | $8,365 |
| HVAC installed | 2013 |
| Roof installed | 2015 |
| Water provider | City of Mesa |
| FEMA flood zone | Zone X |
Underwrite it
Every figure below recomputes as you move an input. Nothing is rounded until it is printed, and operating expenses never include debt service — that separation is what makes the cap rate a property of the building and the cash-on-cash a property of your deal. All outputs are estimates.
Monthly cash flow
−$505
after debt service, before tax
Cap rate
4.10%
NOI ÷ purchase price
Cash-on-cash
-6.32%
cash flow ÷ cash invested
DSCR
0.70
NOI ÷ annual debt service
Where the gross rent goes
- Vacancy$1,447
- Operating$8,365
- Debt service$20,372
- Cash flow$0
| Gross scheduled income | $24,120 |
|---|---|
| Less vacancy & credit loss | −$1,447 |
| Effective gross income | $22,673 |
| Less fixed operating | −$3,830 |
| Less variable operating | −$4,535 |
| Net operating income | $14,308 |
| Less annual debt service | −$20,372 |
| Pre-tax cash flow | -$6,064 |
| Loan amount | $261,750 |
| Monthly principal & interest | $1,698 |
| Cash invested | $95,975 |
| Operating expense ratio | 36.9% |
| Break-even occupancy | 119.1% |
| Gross rent multiplier | 14.5 |
| Rent-to-price ratio | 0.576% |
Estimated figures produced by a model from the assumptions on the left. Not an offer, an appraisal, a loan quote or investment advice. Taxes, insurance and operating expenses are estimates; verify each before you commit capital.
Price history
List-price history
Plotted on a true time axis — the horizontal distance between two points is how long that price actually stood. $10,000 off the original ask, 2.8%.
| Date | Event | Price | Change |
|---|---|---|---|
| June 29, 2026 | Listed | $359,000 | — |
| July 29, 2026 | Price cut | $349,000 | −10,000 |
Estimated value, indexed to the submarket
The current price carried backwards on the West Mesa median-price index. An index adjustment, not an appraisal and not a record of transactions.
| Month | Estimated value |
|---|---|
| Oct 2024 | $336K |
| Nov 2024 | $340K |
| Dec 2024 | $343K |
| Jan 2025 | $344K |
| Feb 2025 | $344K |
| Mar 2025 | $341K |
| Apr 2025 | $336K |
| May 2025 | $331K |
| Jun 2025 | $327K |
| Jul 2025 | $327K |
| Aug 2025 | $329K |
| Sep 2025 | $332K |
| Oct 2025 | $337K |
| Nov 2025 | $340K |
| Dec 2025 | $341K |
| Jan 2026 | $341K |
| Feb 2026 | $339K |
| Mar 2026 | $337K |
| Apr 2026 | $338K |
| May 2026 | $340K |
| Jun 2026 | $344K |
| Jul 2026 | $348K |
| Aug 2026 | $349K |
| Sep 2026 | $349K |
Comparables
Rent is compared per unit, which is the only fair basis across a house and a fourplex. The subject sits 7.8% below the median of its five closest comparables.
| Address | Submarket | Distance | Price | Sq ft | $ / sq ft |
|---|---|---|---|---|---|
| 638 S Extension Rd Subject | West Mesa | — | $349,000 | 1,465 | $238 |
| 1240 W 8th Pl | West Mesa | 0.5 mi | $318,000 | 1,310 | $243 |
| 525 W Baseline Rd | Tempe South | 4.9 mi | $542,000 | 1,985 | $273 |
| 1907 E Watson Dr | Tempe South | 5.3 mi | $496,000 | 1,620 | $306 |
| 3440 W Chandler Blvd | Chandler West | 7.3 mi | $468,000 | 1,780 | $263 |
Sensitivity
What a five-percent move in price or fifty basis points on the rate does to the return. Computed at the baseline assumption set, not at whatever you have set the calculator to — it is a fixed reference.
Sensitivity — cash-on-cash by price and rate
Every other assumption held at the baseline set. A fixed reference, not tied to the calculator above. Estimates.
| Price \ Rate | 5.75% | 6.25% | 6.75% | 7.25% | 7.75% |
|---|---|---|---|---|---|
| $321,000−8% | -2.9% | -3.9% | -5.0% | -6.1% | -7.2% |
| $335,000−4% | -3.6% | -4.6% | -5.7% | -6.8% | -7.9% |
| $349,000ask | -4.2% | -5.2% | -6.3% | -7.4% | -8.5% |
| $363,000+4% | -4.8% | -5.8% | -6.9% | -8.0% | -9.1% |
| $377,000+8% | -5.3% | -6.3% | -7.4% | -8.5% | -9.6% |
Cash-on-cash-9.6% → -2.9%
What to check before you commit
HVAC
Condenser installed 2013, 13 years old. Inside normal service life for this climate, so the CapEx reserve carries it rather than a year-one line item.
Roof
Roof dates to 2015, 11 years old — inside the window most carriers will write without a surcharge.
Flood
FEMA Zone X. Outside the mapped special flood hazard area; a lender will not require separate flood coverage.
Water allocation
Served by City of Mesa. Long-run Colorado River and Central Arizona Project allocation is a genuine risk to price on the metro’s growth edges over a 10-to-20 year hold. It is a discount-rate question, not a next-quarter question.
No HOA
No association. Nothing constrains rental use at the community level, and there is no fixed monthly charge in the expense line.