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5651 W Melinda Lane Glendale, AZ 85308

3 Beds 3 Baths 3,122 sqft Built 1993

$825,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $264.25
  • 2 Days on Market
  • MLS # : 6170604
  • Updated Date : 12/12/2020 at 10:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,122 sqft
  • Baths : 3 full
Listing Agent

Collective Concepts, Llc

Listing Agent's Description

Beautiful one story home with exquisite lake views in Arrowhead Lakes. This home has been newly renovated from top to bottom with marble and wood flooring, Main entrance great room boasts large picture windows with amazing lake views! Granite counter tops, all new appliances, oversized kitchen island, electric induction cooktop, butlers pantry and bar. Large master bedroom with sitting area, bathroom has separate shower and large soaking tub, and walk in closet. Several separate sitting areas and lovely fireplaces throughout the home. Three car garage on a corner lot!Backyard has it all with multiple patios, west facing view of the lakes and Thunderbird Mountain, relaxing pool with unique water features and a private boat dock! Must see to appreciate the beauty of this amazing home

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
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$3,044
Property Tax -$587
Property Insurance -$88
HOA -$25
Property Management Fees -$99
CASH FLOW
-$993

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.

$825,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.35%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,044

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,083

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
  • $2,677

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3953$2,5004$2,5005$2,900
$2,900
RENT COMPS ANALYSIS
  • 5651 W Melinda Lane Glendale, AZ 1
    • 3 beds 3 baths ∙ 3,122 Sqft ∙ Built 1993 3 beds 3 baths ∙ 3,122 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6283 W Lone Cactus Drive Glendale, AZ 2
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.85
    •  
  • 6174 W Quail Avenue Glendale, AZ 3
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 1995
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 5859 W Del Lago Circle Glendale, AZ 4
    • 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 1994
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.79
    •  
  • 5870 W Del Lago Circle Glendale, AZ 5
    • 3 beds 3 baths ∙ 3,042 Sqft ∙ Built 1991 3 beds 3 baths ∙ 3,042 Sqft ∙ Built 1991
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Deborah Harper
Collective Concepts, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170604
Last Updated: 12/12/2020
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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