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4841 E Melinda Lane Phoenix, AZ 85054

4 Beds 2 Baths 1,540 sqft Built 1996

INVESTimate

$409,000

List Price

$1,810

$1,629 - $1,991

Rent Est.

$424,787  ( +3.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $265.58
  • 6 Days on Market
  • MLS # : 6120427
  • Updated Date : 08/25/2020 at 22:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Just what you have been waiting for! A single level, split floorplan home with updates! Very well maintained home has new HVAC (12/19) with extra duct work performed and is energy efficient. Fresh paint in and out, including kitchen cabinets and new plank tile flooring. This is a great room concept home with no wasted space. Very open kitchen with eat-in dining is open to living area. Out side find grass play area and paved extended patio. This home has solar from APS Solar Partner Program that pays you a bill credit every month. Located in highly desirable Desert Ridge this home is convenient to local schools, Desert Ridge shopping center, City North, Mayo clinic and easy access to the 101 and 51 freeways to get you anywhere in the valley in minutes!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k493k

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

Neighborhood: Desert Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9342794

* 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
Desert Trails Elementary School Primary Regular 525 33 9
Explorer Middle School Middle Regular 883 35 10
Pinnacle High School High Regular 2,443 96 8

Desert Trails Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 33
9
GreatSchools Rating

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
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,509
Property Tax -$258
Property Insurance -$57
HOA -$33
Property Management Fees -$99
CASH FLOW
-$146

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.

$409,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.86%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,8753$1,9994$2,0505$2,195
$2,195
RENT COMPS ANALYSIS
  • 4841 E Melinda Lane Phoenix, 1
    • 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.18
    •  
  • 4726 E Abraham Lane Phoenix, 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.22
    •  
  • 4738 E Abraham Lane Phoenix, 3
    • 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.30
    •  
  • 4827 E Melinda Lane Phoenix, 4
    • 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1996
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.33
    •  
  • 4712 E Swilling Road Phoenix, 5
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1996
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.32
    •  
PROPERTY LISTING DETAILS
Lisa A Cameron
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120427
Last Updated: 08/25/2020
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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