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4622 W Melody Drive Laveen, AZ 85339

3 Beds 2 Baths 1,404 sqft Built 2003

$300,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $213.68
  • 3 Days on Market
  • MLS # : 6159712
  • Updated Date : 11/13/2020 at 15:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

William R Stanton

Listing Agent's Description

Look no further! Beautiful single level home with many upgrades! This 3 bed, 2 bath property boasts desert & grass landscaping with recently planted winter seed, 2 car garage on a large premium corner lot! Inside you will find an open concept floor plan with vaulted ceilings, a cozy gas fireplace, neutral paint & custom stained concrete floors throughout. The kitchen is comprised of ample cabinet & counter space and a charming breakfast bar. Large master bedroom retreat with & large master bath with custom tiled shower & separate large tub, double vanity sinks and spacious walk-in closet. Also the beautiful backyard has lots of room to entertain and enjoy with a large covered patio and pavers for additional seating area! Plus Water Softner and RO. This home is nothing short of perfection!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cheatham Farms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $93k271k

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

Neighborhood: Cheatham Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8771567

* 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
Betty Fairfax High School High Regular 1,903 104 3
Phoenix Coding Academy High Regular NA

Betty Fairfax High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 104
3
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,107
Property Tax -$268
Property Insurance -$55
HOA -$23
Property Management Fees -$99
CASH FLOW
-$331

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.

$300,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.1%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,100

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2203$1,3954$1,425
$1,425
RENT COMPS ANALYSIS
  • 4622 W Melody Drive Laveen, AZ 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.87
    •  
  • 7907 S 48th Drive Laveen, AZ 1
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2005
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.71
    •  
  • 5625 W Ellis Drive Laveen, AZ 3
    • 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,753 Sqft ∙ Built 2004
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.80
    •  
  • 7210 S 46th Drive Laveen, AZ 4
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2010
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kristy Jaramillo
William R Stanton
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159712
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.

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