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15632 N 56th Drive Glendale, AZ 85306

5 Beds 4 Baths 2,360 sqft Built 1974

$425,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $180.08
  • 4 Days on Market
  • MLS # : 6211592
  • Updated Date : 03/25/2021 at 16:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,360 sqft
  • Baths : 3 full , 1 half
Listing Agent

Best Homes Real Estate, Llc

Listing Agent's Description

Beautiful Home! Halcraft Tri level! Save on electric bills. Solar already installed! title company all set for easy lease transfer. No HOA! Freshly painted interior march 2021. Home was updated/ Remodeled by previouse owner in 2012. Low E dual pane windows, upgraded flooring. Gorgeous Kitchen , huge Island , double ovens, Granite counter tops, stainless steel appliances, Tons of storage space. Upgraded Vanities with granite tops in the bathrooms. Relaxing Pool Area! Large covered back porch. Great schools. Large back yard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bell-Greenway

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k291k

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

Neighborhood: Bell-Greenway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9521567

* 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
Cactus High School High Regular 1,283 61 5
Cactus High School High Unknown NA

Cactus High School

  • Education Level: High
  • # of students: 1,283
  • # of teachers: 61
5
GreatSchools Rating

Cactus High School

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

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

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 -$1,476
Property Tax -$228
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$106

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.

$425,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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$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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,845

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6954$1,7705$1,825
$1,825
RENT COMPS ANALYSIS
  • 15632 N 56th Drive Glendale, AZ 4
    • 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1974 5 beds 4 baths ∙ 2,360 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.75
    •  
  • 5138 W Sweetwater Avenue Glendale, AZ 1
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1984
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 5843 W Crocus Drive Glendale, AZ 2
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 1980
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 16602 N 46th Lane Glendale, AZ 3
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1983
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 15234 N 51st Drive Glendale, AZ 5
    • 5 beds 2 baths ∙ 2,132 Sqft ∙ Built 1972 5 beds 2 baths ∙ 2,132 Sqft ∙ Built 1972
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.86
    •  
PROPERTY LISTING DETAILS
James Goodwin
Best Homes Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6211592
Last Updated: 03/25/2021
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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