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16238 N 65th Drive Glendale, AZ 85306

3 Beds 3 Baths 1,707 sqft Built 1987

$304,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $178.62
  • 3 Days on Market
  • MLS # : 6170273
  • Updated Date : 12/12/2020 at 14:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,707 sqft
  • Baths : 3 full
Listing Agent

Cma Realty

Listing Agent's Description

ENJOY CATHEDRAL CEILINGS, DECORATIVE WINDOWS, NATURAL LIGHTING & 2 MASTER SUITES! LARGE FORMAL DINING RM W/ FIREPLACE LOOKS OUT TO PRIVATE BACKYARD (OPEN LAND BEHIND LOT). GREAT EAT-IN KITCHEN FEATURES BAY WINDOW, BUTLER'S STATION, PANTRY, UNDER-CABINET LIGHTING, NEWER FRIDGE, NEW MICRO, STOVE & D/W. QUARTZ COUNTER TOPS. WASHER & DRYER 4 YEARS OLD, LAUNDRY W/BUILT IN SINK. TILE, LAMINATE FLOORING & NEW CARPET IN ALL THE RIGHT PLACES. LARGE COVERED PATIO, LOW-MAINTENANCE LANDSCAPE, 13FT RV GATE, SHED & CONCRETE SLAB WITH PLENTY OF PARKING. WATER HEATER LESS THAN 1 Y/O. NEW GARAGE DOOR & OPENER. HVAC & ROOF ONLY 10 YEARS OLD! WELCOME HOME!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lexington Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Lexington Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Foothills Elementary School Primary Regular 677 37 5
Foothills Elementary School Middle Regular 677 37 5
Cactus High School High Regular 1,283 61 5

Foothills Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 37
5
GreatSchools Rating

Foothills Elementary School

  • Education Level: Middle
  • # of students: 677
  • # of teachers: 37
5
GreatSchools Rating

Cactus High School

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

$274,410$335,390$304,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,125
Property Tax -$165
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
$31

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.

$304,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$25,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,528

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3253$1,4804$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 16238 N 65th Drive Glendale, AZ 3
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.87
    •  
  • 6807 W Sherri Jean Lane Peoria, AZ 1
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1999
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.83
    •  
  • 16483 N 68th Avenue Peoria, AZ 2
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1986
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.91
    •  
  • 7129 W Kings Avenue Peoria, AZ 4
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2002
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 6051 W Carol Ann Way Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1979
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Wade S Crandell
Cma Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170273
Last Updated: 12/12/2020
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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