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125 W Melody Drive Gilbert, AZ 85233

3 Beds 2 Baths 1,349 sqft Built 1991

$335,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $248.33
  • 2 Days on Market
  • MLS # : 6162249
  • Updated Date : 11/21/2020 at 03:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,349 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Intorducing your Beautiful Move-in-ready 3 bedroom, 2 full bathroom single story home, located in the heart of Gilbert, and the upscale downtown area. Your dream home has it all! You are greeted by an open concept living room/dining room & kitchen area with engineered wood flooring, carpets in bedroom only. Previously upgraded kitchen & bathrooms. Both have white cabinets, & granite countertops to match. Walk-in closet in the master bedroom, storage closet, kitchen pantry, stainless steel appliances, dual pane windows that surround the house with natural lighting and white matching blinds on all windows. French doors that lead you to your private backyard, & partail covered patio with fresh green grass, pavement for entertaining. Gilbert is the 3rd safest place to live in the USA.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
Oak Tree Elementary School Primary Regular 675 40 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Oak Tree Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 40
6
GreatSchools Rating

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,236
Property Tax -$197
Property Insurance -$54
HOA -$9
Property Management Fees -$99
CASH FLOW
-$184

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4503$1,5004$1,5255$1,624
$1,624
RENT COMPS ANALYSIS
  • 125 W Melody Drive Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.05
    •  
  • 210 W San Pedro Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1985
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 170 E Guadalupe Road #80 Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1986
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 170 E Guadalupe Road #119 Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1988
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.07
    •  
  • 170 E Guadalupe Road #133 Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1986
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,624
    • $1.14
    •  
PROPERTY LISTING DETAILS
Vera C Kesto
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162249
Last Updated: 11/21/2020
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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