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

15194 W Melvin Street Goodyear, AZ 85338

3 Beds 2 Baths 1,516 sqft Built 2000

$299,500

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $197.56
  • 2 Days on Market
  • MLS # : 6163654
  • Updated Date : 11/21/2020 at 17:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,516 sqft
  • Baths : 2 full
Listing Agent

Pmt Realty

Listing Agent's Description

This well maintained 3 bedroom 2 bathroom home with pool is perfect for an investor or someone not quite ready to move. This home, located in a great Goodyear neighborhood, is loaded with upgrades including OWNED solar and a sparkling pool. The home also features 18'' Travertine tile, upgraded cabinets, granite counters, stainless steel appliances and ceiling fans throughout. It is conveniently located close to shopping and freeway access. The home currently has a tenant with a lease through 9/30/21 and is a great rental home. Check out the virtual tour!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Mirage

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k302k

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

Neighborhood: Rancho Mirage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8621646

* 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
Centerra Mirage Stem Academy Primary Regular 569 24 4
Centerra Mirage Stem Academy Middle Regular 569 24 4
Desert Edge High School High Regular 1,744 80 3

Centerra Mirage Stem Academy

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 24
4
GreatSchools Rating

Centerra Mirage Stem Academy

  • Education Level: Middle
  • # of students: 569
  • # of teachers: 24
4
GreatSchools Rating

Desert Edge High School

  • Education Level: High
  • # of students: 1,744
  • # of teachers: 80
3
GreatSchools Rating
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,105
Property Tax -$194
Property Insurance -$57
HOA -$20
Property Management Fees -$99
CASH FLOW
-$175

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.

$299,500

PROJECTED PRICE

$1,300

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

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$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,659

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
  • $1,323

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3003$1,3504$1,4955$1,499
$1,499
RENT COMPS ANALYSIS
  • 15194 W Melvin Street Goodyear, AZ 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15193 W Adams Street Goodyear, AZ 2
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2003
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.85
    •  
  • 15187 W Melvin Street Goodyear, AZ 3
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2000
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 15233 W Monroe Street Goodyear, AZ 4
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2005
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 246 N 153rd Avenue Goodyear, AZ 5
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2004
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.88
    •  
PROPERTY LISTING DETAILS
Michael Prochko
Pmt Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163654
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.

BESbswy