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3961 E Melinda Drive Phoenix, AZ 85050

3 Beds 3 Baths 1,444 sqft Built 2008

$395,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $273.55
  • 2 Days on Market
  • MLS # : 6190892
  • Updated Date : 02/06/2021 at 17:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this two story home in gated Fireside at Desert Ridge! This home has been refreshed with new interior and exterior paint and new carpet. The kitchen features granite countertops and stainless steel appliances. Half bathroom on the main floor for guests' convenience. All bedrooms and full bathrooms are located on the second floor. The primary bedroom has an ensuite bathroom with dual sinks and a walk in closet. GREAT location near LOTS of Shopping & Dining. Also near, neighborhood parks, TONS of golf, LOTS of hiking and biking trails, and easy freeway access. Vacant and ready for viewing, come see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fireside

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Fireside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9342898

* 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
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Explorer Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 35
10
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,372
Property Tax -$249
Property Insurance -$55
HOA -$222
Property Management Fees -$99
CASH FLOW
-$107

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.

$395,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$5.0k$0.0$5.0k$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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,047

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
  • $1,884

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$1,9004$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 3961 E Melinda Drive Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 21824 N 40th Way Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,449 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,449 Sqft ∙ Built 1999
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.28
    •  
  • 3947 E Melinda Drive Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2008
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.32
    •  
  • 3967 E Melinda Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2008
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.35
    •  
  • 3935 E Rough Rider Road #1264 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2015
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.27
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190892
Last Updated: 02/06/2021
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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