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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $259.74
- 2 Days on Market
- MLS # : 6173090
- Updated Date : 12/19/2020 at 22:51
CONSTRUCTION
- Beds : 4
- Floor Size : 1,540 sqft
- Baths : 2 full
Listing Agent
Realty Executives
Listing Agent's Description
Desert Ridge charmer! Freshly painted inside, nice quiet area. Guest bath has beautiful tiled bath with matching sink. Master retreat has a large walk-in closet plus a linen closet. Stone-look tile in living areas and wood look flooring in the bedrooms. The kitchen enjoys 42 inch cabinets, granite counters and stainless steel appliances. Easy access to shops and restaurants. One of the walking paths for Desert Ridge is at the end of the street The owner recently installed nice window treatments. The a/c is 2013.
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PRICE & RENT TRENDS
Neighborhood: Desert Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Desert Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,080 |
| EXPENSES | Loan Payment | -$1,476 |
| Property Tax | -$252 | |
| Property Insurance | -$57 | |
| HOA | -$5 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$191
|
||
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.
$400,000
PROJECTED PRICE
$2,080
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 3.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,750
LOAN DETAILS
$1,476
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $100,000 |
| Loan Amount | $300,000 |
7.92
YEARS SAVED
$48,324
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,064
COMP ESTIMATED VALUE -
$1.34
COMP AVG. RENT PER SQFT
Comps Range
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4631 E Melinda Lane Phoenix, AZ 1
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- Rent
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- $0
- $0.00
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21832 N 48th Place Phoenix, AZ 2
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LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,950
- $1.27
-
4738 E Abraham Lane Phoenix, AZ 3
- 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
![property image]()
LEASED 08/13/20- Rent
- Rent Per SQFT
- $1,999
- $1.30
-
4827 E Melinda Lane Phoenix, AZ 4
- 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
![property image]()
LEASED 07/10/20- Rent
- Rent Per SQFT
- $2,050
- $1.33
-
4627 E Melinda Lane Phoenix, AZ 5
- 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
![property image]()
LEASED 04/01/20- Rent
- Rent Per SQFT
- $2,250
- $1.46
PROPERTY LISTING DETAILS
Realty Executives
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6173090
Last Updated: 12/19/2020
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.
