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16618 N 48th Drive Glendale, AZ 85306

3 Beds 2 Baths 1,024 sqft Built 1979

$259,900

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $253.81
  • 18 Days on Market
  • MLS # : 6161753
  • Updated Date : 12/04/2020 at 01:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,024 sqft
  • Baths : 2 full
Listing Agent

Home Style Realty, Llc

Listing Agent's Description

Move in ready. New paint, new carpet, and new fixtures throughout. 3 bedroom, 2 bath, inside laundry room, extra storage room in garage. Huge back yard, RV gate, and RV parking. Plenty of space for your toys. Established neighborhood.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8411567

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$959
Property Tax -$159
Property Insurance -$47
Property Management Fees -$99
CASH FLOW
-$184

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.

$259,900

PROJECTED PRICE

$1,080

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.8%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $956

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,080
1$1,0802$1,1953$1,1994$1,200
$1,200
RENT COMPS ANALYSIS
  • 16618 N 48th Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,024 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $1.05
    •  
  • Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1986
    property image
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.95
    •  
  • 15039 N 38th Drive Phoenix, AZ 3
    • 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 4
    • 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
    •  
PROPERTY LISTING DETAILS
Marisol Lechner
Home Style Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161753
Last Updated: 12/04/2020
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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