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3327 W Melinda Lane Phoenix, AZ 85027

3 Beds 2 Baths 1,640 sqft Built 1995

$319,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $195.06
  • 2 Days on Market
  • MLS # : 6202823
  • Updated Date : 03/06/2021 at 16:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 2 full
Listing Agent

Marketplace One Realty

Listing Agent's Description

Truly Open Floor Plan in North Phoenix! This home charms right from the start, with a custom wood front door that welcomes you to the open living area and compliments the upgraded tile floors throughout. The spacious great room allows for ample dining space and flows right to the open concept kitchen featuring a huge island and plenty of storage with your pantry and cabinets. The first guest room is just off the great room which can make a convenient office, while the other guest room lies on the far side of the home. The master bedroom is separated enough from the main living space to allow for privacy, and has a true en-suite bathroom with double sinks and a walk-in shower. The backyard is wonderfully finished with mostly grass and a covered patio to protect from the sun.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Foothills North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Foothills North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7521567

* 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
Barry Goldwater High School High Regular 1,856 88 4

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,111
Property Tax -$191
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$59

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.

$319,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,4953$1,5204$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 3327 W Melinda Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.93
    •  
  • 21655 N 36th Avenue #135 Glendale, AZ 1
    • 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 2007
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.90
    •  
  • 3559 W Via Del Sol Drive Glendale, AZ 2
    • 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1997
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 22051 N 30th Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2001
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 21842 N 31st Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1998
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nicholas Carlisle
Marketplace One Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202823
Last Updated: 03/06/2021
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.

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