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

17123 N Melissa Lane Surprise, AZ 85374

3 Beds 2 Baths 1,968 sqft Built 1997

$345,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $175.30
  • 3 Days on Market
  • MLS # : 6199498
  • Updated Date : 02/27/2021 at 17:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,968 sqft
  • Baths : 2 full
Listing Agent

Rosemond Real Estate

Listing Agent's Description

ORIGINAL OWNERS HAVE TAKEN GREAT CARE OF THIS FINE HOME--3 BEDROOMS PLUS DEN/OFFICE WITH DOUBLE DOOR ENTRY THAT CAN EASILY BE YOUR 4TH BEDROOM--VAULTED CEILINGS THROUGHOUT THE HOME---FRONT LIVING ROOM + DINING AREA---OPEN KITCHEN WITH STAINLESS APPLIANCES, PANTRY WITH SLIDING SHELVES + POT SHELVES--REAR FAMILY ROOM WITH GAS FIREPLACE--EXIT FAMILY ROOM TO COZY COVERED PATIO OVERLOOKING NICE AREA WITH ARTIFICIAL GRASSY PAD SURROUNDING PARTIALLY SUNKEN HOT TUB...PERFECT SET UP FOR BEAUTIFUL EVENINGS ON THE PATIO UNDER THE STARS--ENTER THE MASTER BATHROOM OFF OF PATIO--LARGE MASTER BEDROOM WITH WALK-IN CLOSET & DOUBLE DOOR ENTRANCE TO HALLWAY---INSIDE LAUNDRY WITH NICE FRONT LOADER WASHER/DRYER COMBO--A/C UNIT, DISHWASHER, RANGE & WATER HEATER REPLACED ABOUT 5 YEARS AGO--APPLIANCES CONVEY +

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Continental at Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: Continental at Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9121567

* 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
Willow Canyon High School High Regular 2,084 83 3

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,198
Property Tax -$206
Property Insurance -$66
HOA -$14
Property Management Fees -$99
CASH FLOW
-$53

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.

$345,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
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-$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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,595

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
  • $1,569

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,5504$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 17123 N Melissa Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16434 N 152nd Lane Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2004
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 15434 W Cottonwood Circle Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 15047 W Rockrose Way Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1995
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 15143 W Bola Drive Surprise, AZ 5
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2005
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jesse White
Rosemond Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199498
Last Updated: 02/27/2021
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