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20612 N 61st Avenue Glendale, AZ 85308

3 Beds 2 Baths 1,688 sqft Built 1992

$410,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $242.89
  • 2 Days on Market
  • MLS # : 6168185
  • Updated Date : 12/05/2020 at 12:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,688 sqft
  • Baths : 2 full
Listing Agent

Congress Realty, Inc.

Listing Agent's Description

Exquisite golf course gem with mountain views in the extremely sought after Arrowhead Ranch. You will love this golf course home with a private pool and spectacular views. This gem includes tile throughout, high vaulted ceilings, granite countertops, upgraded kitchen cabinets, 10 ton Trane AC unit, Anderson windows, and so much more that makes this home truly turnkey. Did I mention location, location, location? Minutes away from the 101, shopping, dining, entertainment, and golf in your backyard! Hurry come see for yourself and pack your bags because you just found your new home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arrowhead Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $104k387k

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

Neighborhood: Arrowhead Ranch

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9521981

* 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
Legend Springs Elementary School Primary Regular 647 36 9
Legend Springs Elementary School Middle Regular 647 36 9
Mountain Ridge High School High Regular 2,206 94 7

Legend Springs Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 36
9
GreatSchools Rating

Legend Springs Elementary School

  • Education Level: Middle
  • # of students: 647
  • # of teachers: 36
9
GreatSchools Rating

Mountain Ridge High School

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

$369,000$451,000$410,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,513
Property Tax -$292
Property Insurance -$60
HOA -$12
Property Management Fees -$99
CASH FLOW
-$366

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.

$410,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6503$1,7504$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 20612 N 61st Avenue Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.95
    •  
  • 5905 W Blackhawk Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1992
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 5331 W Pontiac Drive Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 6378 W Matilda Lane Glendale, AZ 4
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1998
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 19517 N 55th Drive Glendale, AZ 5
    • 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 1997
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jared A English
Congress Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168185
Last Updated: 12/05/2020
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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