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5248 W Melinda Lane Glendale, AZ 85308

4 Beds 3 Baths 2,315 sqft Built 1999

$595,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $257.02
  • 2 Days on Market
  • MLS # : 6174663
  • Updated Date : 12/26/2020 at 15:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,315 sqft
  • Baths : 3 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Highly sought after true single level (no step up or down in the interior) that has been completely updated with upgraded hickory kitchen cabinetry, luxury granite, appliances and light fixtures. All 3 bathrooms have been beautifully updated as well. Nice split floor plan. The resort style backyard boasts a beautiful pool with waterfall and two gazebos, one for outdoor dining and one with a hot tub for star gazing at night. The rest of the backyard slopes into the mountain with natural desert landscaping. The dramatic views of multi million dollar homes above the mountain are incredible at night! The entire backyard has been fenced with block fencing for added privacy! Professionally landscaped both front and back. The home has been meticulously maintained by the owners and it shows!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arrowhead Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $104k575k

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

Neighborhood: Arrowhead Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9522397

* 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
Legend Springs Elementary School Primary Regular 647 36 9
Legend Springs Elementary School Middle Regular 647 36 9
Mountain Ridge High School High Regular 2,206 94 7

Legend Springs Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 36
9
GreatSchools Rating

Legend Springs Elementary School

  • Education Level: Middle
  • # of students: 647
  • # of teachers: 36
9
GreatSchools Rating

Mountain Ridge High School

  • Education Level: High
  • # of students: 2,206
  • # of teachers: 94
7
GreatSchools Rating
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,195
Property Tax -$424
Property Insurance -$72
HOA -$25
Property Management Fees -$99
CASH FLOW
-$405

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.

$595,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,118

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
  • $2,089

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$2,0954$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 5248 W Melinda Lane Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 20380 N 55th Drive #0 Glendale, AZ 2
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 1993
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 5326 W Taro Lane Glendale, AZ 3
    • 5 beds 3 baths ∙ 2,398 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,398 Sqft ∙ Built 2000
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.87
    •  
  • 19239 N 54th Lane Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,261 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,261 Sqft ∙ Built 1999
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 21596 N 59th Lane Glendale, AZ 5
    • 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 1994
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Karen Ortega Matson
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174663
Last Updated: 12/26/2020
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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