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20021 N 38th Lane Glendale, AZ 85308

4 Beds 3 Baths 2,627 sqft Built 2004

$422,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $160.64
  • 3 Days on Market
  • MLS # : 6170047
  • Updated Date : 12/10/2020 at 19:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,627 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Glendale two-story home offers a view deck off the master, a patio, a pool/spa, and a three-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cerrano

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k297k

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

Neighborhood: Cerrano

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9521636

* 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
Park Meadows Elementary School Primary Regular 574 37 8
Park Meadows Elementary School Middle Regular 574 37 8
Barry Goldwater High School High Regular 1,856 88 4

Park Meadows Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 37
8
GreatSchools Rating

Park Meadows Elementary School

  • Education Level: Middle
  • # of students: 574
  • # of teachers: 37
8
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$379,800$464,200$422,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,557
Property Tax -$251
Property Insurance -$78
HOA -$22
Property Management Fees -$99
CASH FLOW
$192

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.

$422,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,580

INVESTMENT

$117,580

Down Payment
$105,500
Rehab Estimate
$5,750
Closing Costs
$6,330

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,557

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,500
Loan Amount $316,500
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$52,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,200

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9954$2,0905$2,200
$2,200
RENT COMPS ANALYSIS
  • 20021 N 38th Lane Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 22031 N 34th Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 1997
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 4213 W Wahalla Lane Glendale, AZ 2
    • 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 2002
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 21047 N 33rd Avenue Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 20830 N 40th Drive Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2019
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170047
Last Updated: 12/10/2020
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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