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8813 W Melinda Lane Peoria, AZ 85382

3 Beds 3 Baths 2,481 sqft Built 1999

$460,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $185.41
  • 3 Days on Market
  • MLS # : 6187061
  • Updated Date : 01/29/2021 at 17:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,481 sqft
  • Baths : 3 full
Listing Agent

Wise Realty Az

Listing Agent's Description

Clean ready to move in home. Three bedroom plus a den. Living Room plus open great room floorplan. Upgraded windows. Downstairs laundry. 2.5 garage with RV gate and concrete slab in backyard for parking. The backyard is like a oasis with pool and waterfall, shade trees, grass, covered patios and so much more.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Deer Village

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
Sunrise Mountain High School High Regular 1,675 72 7
Sunrise Mountain High School High Unknown NA

Sunrise Mountain High School

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

Sunrise Mountain High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,598
Property Tax -$313
Property Insurance -$76
HOA -$40
Property Management Fees -$99
CASH FLOW
-$355

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.

$460,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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-$5.0k$0.0$5.0k$10k

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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,963

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
  • $1,867

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7003$1,7954$1,7955$1,995
$1,995
RENT COMPS ANALYSIS
  • 8813 W Melinda Lane Peoria, AZ 1
    • 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9147 W Albert Lane Peoria, AZ 2
    • 3 beds 2 baths ∙ 2,209 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,209 Sqft ∙ Built 2000
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 9020 W Lone Cactus Drive Peoria, AZ 3
    • 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 1998
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 9464 W Mary Ann Drive Peoria, AZ 4
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 1999
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 8242 W Melinda Lane Peoria, AZ 5
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1999
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
PROPERTY LISTING DETAILS
Keri Means
Wise Realty Az
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187061
Last Updated: 01/29/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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