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510 Melrose St Zillah, WA 98953

3 Beds 2 Baths 1,300 sqft Built 1940

$185,000

List Price

$1,012

$910.8 - $1.1K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $142.31
  • 6 Days on Market
  • MLS # : 21-260
  • Updated Date : 02/10/2021 at 18:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Central Washington Real Estate

Listing Agent's Description

Nice, clean Zillah home with 1300 square feet. 3 bedroom, 2 bath close to schools and shopping.

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PRICE & RENT TRENDS

Zip Code: 98953

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $78k214k

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

Zip Code: 98953

No Data Available.

* 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
Hilton Elementary School Primary Regular 386 21 4
Zillah Middle School Middle Regular 196 12 6
Zillah High School High Regular 441 21 4

Hilton Elementary School

  • Education Level: Primary
  • # of students: 386
  • # of teachers: 21
4
GreatSchools Rating

Zillah Middle School

  • Education Level: Middle
  • # of students: 196
  • # of teachers: 12
6
GreatSchools Rating

Zillah High School

  • Education Level: High
  • # of students: 441
  • # of teachers: 21
4
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$911$1,113$1,012

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,012
EXPENSES Loan Payment -$643
Property Tax -$151
Property Insurance -$53
Property Management Fees -$109
CASH FLOW
$56

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.

$185,000

PROJECTED PRICE

$1,012

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$13,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,012

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,012
1$1,012
$1,012
RENT COMPS ANALYSIS
  • 510 Melrose St Zillah, WA
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,012
    • $0.78
    •  
PROPERTY LISTING DETAILS
Paul Berndt
1.509.480.2157
Berkshire Hathaway Homeservices Central Washington Real Estate
BESbswy