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15690 W Melvin Street Goodyear, AZ 85338

4 Beds 3 Baths 2,322 sqft Built 2019

$365,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $157.19
  • 3 Days on Market
  • MLS # : 6157077
  • Updated Date : 11/07/2020 at 19:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,322 sqft
  • Baths : 3 full
Listing Agent

Homie

Listing Agent's Description

New, beautiful, and modern-build home built recently in 2019! Ready to move in with many upgrades! Spacious three-car garage with newly added wood storage cabinet and workbench! It has a beautifully landscaped back yard and unique paved turfed courtyard!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bella Rosa at Canyon Trails

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k302k

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

Neighborhood: Bella Rosa at Canyon Trails

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9681646

* 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
Desert Thunder School Primary Regular 636 26 5
Desert Thunder School Middle Regular 636 26 5
Desert Edge High School High Regular 1,744 80 3

Desert Thunder School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 26
5
GreatSchools Rating

Desert Thunder School

  • Education Level: Middle
  • # of students: 636
  • # of teachers: 26
5
GreatSchools Rating

Desert Edge High School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,347
Property Tax -$267
Property Insurance -$72
HOA -$157
Property Management Fees -$99
CASH FLOW
-$122

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 3.00%
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$98,725

INVESTMENT

$98,725

Down Payment
$91,250
Rehab Estimate
$2,000
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,7003$1,7504$1,8005$1,820
$1,820
RENT COMPS ANALYSIS
  • 15690 W Melvin Street Goodyear, AZ 5
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.78
    •  
  • 1235 N 157th Drive Goodyear, AZ 1
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2004
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.74
    •  
  • 15786 W Mckinley Street Goodyear, AZ 2
    • 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2016
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 31 N 163rd Drive Goodyear, AZ 3
    • 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2002
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 15361 W Jefferson Street Goodyear, AZ 4
    • 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2004
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
PROPERTY LISTING DETAILS
Krysten Giordano
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157077
Last Updated: 11/07/2020
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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