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16001 N 48th Drive Glendale, AZ 85306

3 Beds 2 Baths 1,110 sqft Built 1979

$315,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $283.78
  • 1 Days on Market
  • MLS # : 6160822
  • Updated Date : 11/14/2020 at 20:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

This beautifully updated, corner lot home boasts 2 car garage, contemporary stone tile flooring throughout, and fresh neutral paint. Tastefully designed kitchen remodeled in 2020, equipped with quartz countertops, new white cabinets with soft-close drawers, farmhouse sink, matching appliances, track lighting, separate pantry, and lovely breakfast bar. Both bathrooms updated in 2020 with new Jacuzzi showers and tub. Living room is wired for surround sound. The expansive backyard features a covered paver patio and sitting area, an RV gate with paved parking space, a fire-pit, and plenty of space for fun. Only a short walk to neighborhood park and NO HOA! This is the home you have been looking for!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Brighton Place Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $98k271k

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

Neighborhood: Brighton Place Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8811567

* 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
Sunburst Elementary School Primary Regular 643 29 6
Desert Foothills Junior High School Middle Regular 660 32 6
Greenway High School High Regular 1,474 68 7

Sunburst Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 29
6
GreatSchools Rating

Desert Foothills Junior High School

  • Education Level: Middle
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Greenway High School

  • Education Level: High
  • # of students: 1,474
  • # of teachers: 68
7
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$1,162
Property Tax -$193
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$393

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.

$315,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,032

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,110
1$1,1102$1,1993$1,2004$1,295
$1,295
RENT COMPS ANALYSIS
  • 16001 N 48th Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $1.00
    •  
  • 15039 N 38th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1974
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.92
    •  
  • 5254 W Banff Lane Glendale, AZ 3
    • 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1973
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 4725 W Continental Drive Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1975
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
PROPERTY LISTING DETAILS
Emily Coakley
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160822
Last Updated: 11/14/2020
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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