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16211 N 51st Drive Glendale, AZ 85306

4 Beds 2 Baths 2,424 sqft Built 1980

$442,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $182.34
  • 3 Days on Market
  • MLS # : 6162536
  • Updated Date : 11/20/2020 at 22:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,424 sqft
  • Baths : 2 full
Listing Agent

Best Homes Real Estate, Llc

Listing Agent's Description

No HOA. Completely remodeled. 4 spacious bedrooms, 2 baths. Large Az room, plus a bonus flex room. Stunning Gourmet kitchen w/new gas stove, island, quartz countertops, gooseneck faucet, wine cooler, & is joined w/ breakfast room. Elegant Formal dining & Living area w/French doors, lead to the Az room. Spacious Home-owner's suite has a walk-in closet, french doors separate exit. Amazing remodel has New flooring, New countertops, New remote ceiling fans, New baseboards, New sinks, New faucets, New hardware, New Garage Door & remote, New french doors, and much more! Huge lot at 17,700 SQ FT for you to make your own paradise. His and her sheds in the back. RV gate. 4 vehicle parking slab. Near freeways, restaurants.

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
Canyon Elementary School Primary Regular 329 67 5
Canyon Elementary School Middle Regular 329 67 5
Cactus High School High Regular 1,283 61 5

Canyon Elementary School

  • Education Level: Primary
  • # of students: 329
  • # of teachers: 67
5
GreatSchools Rating

Canyon Elementary School

  • Education Level: Middle
  • # of students: 329
  • # of teachers: 67
5
GreatSchools Rating

Cactus High School

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

$397,800$486,200$442,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,631
Property Tax -$237
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$261

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.

$442,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.40%

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$122,880

INVESTMENT

$122,880

Down Payment
$110,500
Rehab Estimate
$5,750
Closing Costs
$6,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,631

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,500
Loan Amount $331,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$12,069

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6953$1,6954$1,7805$1,950
$1,950
RENT COMPS ANALYSIS
  • 16211 N 51st Drive Glendale, AZ 4
    • 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.73
    •  
  • 17214 N 49th Avenue Glendale, AZ 1
    • 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 1978
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.67
    •  
  • 4951 W Joyce Circle Glendale, AZ 2
    • 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 1977
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.69
    •  
  • 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
    •  
  • 5385 W Michelle Drive Glendale, AZ 5
    • 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1996
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Virginia Stewart
Best Homes Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162536
Last Updated: 11/20/2020
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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