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17422 N 74th Drive Glendale, AZ 85308

5 Beds 3 Baths 2,701 sqft Built 1974

$569,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $211.00
  • 2 Days on Market
  • MLS # : 6160750
  • Updated Date : 11/14/2020 at 15:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,701 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

CUSTOM HOME ON A VERY PRIVATE .868 ACRE CUL-DE-SAC LOT WITH HORSE PRIVILEDGES, SPARKLING POOL, GAZEBO WITH KITCHEN, TREE HOUSE, RV GATE/PARKING, 3 LARGE OPEN PATIOS, 30 X 11 WEST FACING POOLSIDE COVERED PATIO WITH 2 CEILING FANS AND MORE. SIX (6) CEILING FANS WITH LIGHTS IN LIVING ROOM & ALL 5 BEDROOMS. OWNERS HAVE MADE $42,000 + IN UPDRADES AND IMPROVEMENTS IN THE PAST 4 YEARS. GARDEN AREA ON NORTH SIDE OF HOME. MANY MIRRED CLOSET DOOR IN BEDROOMS. 2ND MASTER BEDROOM WITH FRENCH DOORS TO 14 X 11 WEST FACING POOLSIDE COVERED PATIO. VERY PRIVATE 26 X 20 FRONT EAST FACING BRICK PATIO. SPACIOUS LIVING AREA WITH 24 X 14 LIVING ROOM WITH FIREPLACE, 24 X 11 KITCHEN WITH TWO 12 FOOT GRANITE ISLANDS WITH BREAKFAST BARS PLUS MATCHING GRANITE BUFFET AND 16 X 12 DINING ROOM AREA.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Secluded Acres and Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $104k421k

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

Neighborhood: Secluded Acres and Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9522318

* 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
Arrowhead Elementary School Primary Regular 584 32 8
Arrowhead Elementary School Middle Regular 584 32 8
Mountain Ridge High School High Regular 2,206 94 7

Arrowhead Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 32
8
GreatSchools Rating

Arrowhead Elementary School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 32
8
GreatSchools Rating

Mountain Ridge High School

  • Education Level: High
  • # of students: 2,206
  • # of teachers: 94
7
GreatSchools Rating
 

$512,910$626,890$569,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,103
Property Tax -$406
Property Insurance -$80
Property Management Fees -$99
CASH FLOW
-$297

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.

$569,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$15,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,134

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0953$2,0954$2,1505$2,500
$2,500
RENT COMPS ANALYSIS
  • 17422 N 74th Drive Glendale, AZ 1
    • 5 beds 3 baths ∙ 2,701 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,701 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 19315 N 77th Drive Glendale, AZ 2
    • 5 beds 3 baths ∙ 2,843 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,843 Sqft ∙ Built 1990
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.74
    •  
  • 19314 N 77th Avenue Glendale, AZ 3
    • 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1989
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 7503 W Julie Drive Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1986
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
  • 7021 W Kimberly Way Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 1985
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Terry G Hillman
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160750
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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