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

3423 W Melody Drive Laveen, AZ 85339

3 Beds 2 Baths 1,924 sqft Built 2019

$340,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $176.72
  • 3 Days on Market
  • MLS # : 6159935
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,924 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Want a new home but don't want to wait months for it to be done? This home was built just last year and has upgrades throughout - check out the upgraded kitchen, and you have to see master bath, oh, and the glass doors leading to the backyard are stunning. Situated in the beautiful little neighborhood of Laveen Landing, just across from Cesar Chavez Park and at the base of South Mountain with its hiking and mountain biking trails, this location will not disappoint. The oversized backyard, with an RV gate for access, is just waiting for your dreams to be made into reality. Come check this one out before it is gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Laveen

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k271k

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

Neighborhood: Laveen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8471567

* 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
Bernard Black Elementary School Primary Regular 843 35 2
Bernard Black Elementary School Middle Regular 843 35 2
Cesar Chavez High School High Regular 2,575 131 3

Bernard Black Elementary School

  • Education Level: Primary
  • # of students: 843
  • # of teachers: 35
2
GreatSchools Rating

Bernard Black Elementary School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 35
2
GreatSchools Rating

Cesar Chavez High School

  • Education Level: High
  • # of students: 2,575
  • # of teachers: 131
3
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,254
Property Tax -$295
Property Insurance -$65
HOA -$28
Property Management Fees -$99
CASH FLOW
-$241

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.

$340,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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

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$92,100

INVESTMENT

$92,100

Down Payment
$85,000
Rehab Estimate
$2,000
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,969

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
  • $1,530

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,5254$1,5955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3423 W Melody Drive Laveen, AZ 1
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3135 W Park Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2003
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 3124 W Maldonado Road Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.75
    •  
  • 9410 S 34th Lane Laveen, AZ 4
    • 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 2017
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 3909 W Park Street Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2002
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
PROPERTY LISTING DETAILS
Scott D Indahl
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159935
Last Updated: 11/13/2020
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