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8218 W Melinda Lane Peoria, AZ 85382

5 Beds 3 Baths 2,465 sqft Built 1999

$425,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $172.41
  • 4 Days on Market
  • MLS # : 6162386
  • Updated Date : 11/19/2020 at 21:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,465 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

FLETCHER HEIGHTS! BEAUTIFULLY UPDATED! HEATED POOL/SPA! A house to entertain, enjoy, and call HOME.. Beautiful curb appeal with mature palms and well maintained lush grass lawn. Walk up to the South facing front door, w/ a small front patio/sitting area. Open the door to a vaulted great room, dining room, wood stair bannister. The DWNSTRS GUEST BDRM & BATH is pleasantly updated w/ real wood floors, & quartz countertops. The Kitchen has been comfortably updated w/ clean QUARTZ counters, neutral colored TRAVERTINE backsplash, and matching appliances which flows nicely to the open family Rm area. Take your pick of the Eat-In or Formal dining areas that surround the kitchen. The lush backyard offers a nice covered patio w/ thoughtful landscaping & heated pool/spa, great for entertaining.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fletcher Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Fletcher Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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
Frontier Elementary School Primary Regular 944 44 9
Frontier Elementary School Middle Regular 944 44 9
Sunrise Mountain High School High Regular 1,675 72 7

Frontier Elementary School

  • Education Level: Primary
  • # of students: 944
  • # of teachers: 44
9
GreatSchools Rating

Frontier Elementary School

  • Education Level: Middle
  • # of students: 944
  • # of teachers: 44
9
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 1,675
  • # of teachers: 72
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,568
Property Tax -$289
Property Insurance -$75
HOA -$13
Property Management Fees -$99
CASH FLOW
-$15

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.

$425,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$27,686

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
  • $2,268

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,2004$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 8218 W Melinda Lane Peoria, AZ 1
    • 5 beds 3 baths ∙ 2,465 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,465 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7806 W Salter Drive Peoria, AZ 2
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 7842 W Quail Avenue Peoria, AZ 3
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2006
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 20490 N 80th Avenue Peoria, AZ 4
    • 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.94
    •  
  • 22406 N 78th Drive Peoria, AZ 5
    • 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
PROPERTY LISTING DETAILS
James Jones
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162386
Last Updated: 11/19/2020
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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