Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

20685 N 56th Avenue Glendale, AZ 85308

4 Beds 3 Baths 2,747 sqft Built 1996

$650,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $236.62
  • 5 Days on Market
  • MLS # : 6190669
  • Updated Date : 02/11/2021 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,747 sqft
  • Baths : 3 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Spectacular Arrowhead Lakes home positioned perfectly for a long lake and Mountain View! This home has great curb appeal with mature trees and desert landscaping. New Roof just completed! Step inside to the beautiful living room with vaulted ceilings, gorgeous windows with plantation shutters and a nice neutral color scheme. Dining room and over looks the living room and has a beautiful sliding door taking advantage of the lake view. Very nice kitchen with granite counter tops, kitchen island and a perfect spot for the breakfast table. Cozy family room with a fireplace and slider to the patio. Master retreat is where you will find a relaxing balcony with stunning views, en suite bath with in laid medallion tile accents, dual vanities, soaking tub and walk in shower

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arrowhead Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $104k575k

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

Neighborhood: Arrowhead Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9522397

* 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
Hillcrest Middle School Middle Regular 991 40 8
Mountain Ridge High School High Regular 2,206 94 7
Hillcrest Middle School Middle Unknown NA

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 991
  • # of teachers: 40
8
GreatSchools Rating

Mountain Ridge High School

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

Hillcrest Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$2,258
Property Tax -$463
Property Insurance -$81
HOA -$25
Property Management Fees -$99
CASH FLOW
-$545

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.

$650,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.4%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,520

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3804$2,5005$2,900
$2,900
RENT COMPS ANALYSIS
  • 20685 N 56th Avenue Glendale, AZ 3
    • 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.87
    •  
  • 21622 N 59th Lane Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 5368 W Topeka Drive Glendale, AZ 2
    • 5 beds 3 baths ∙ 2,397 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,397 Sqft ∙ Built 1999
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 6105 W Irma Lane Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 1994
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 5870 W Del Lago Circle Glendale, AZ 5
    • 3 beds 3 baths ∙ 3,042 Sqft ∙ Built 1991 3 beds 3 baths ∙ 3,042 Sqft ∙ Built 1991
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nathan C Martinez
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190669
Last Updated: 02/11/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy