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21540 N 57th Avenue Glendale, AZ 85308

4 Beds 2 Baths 2,231 sqft Built 1993

$598,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $268.04
  • 4 Days on Market
  • MLS # : 6169841
  • Updated Date : 12/11/2020 at 14:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,231 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

PARADISE IN ARROWHEAD LAKES. This home delivers on the BIG 5: SINGLE LEVEL, POOL, 3-CAR GARAGE, CUL-DE-SAC, & WATERFRONT! Located in the favorable northern most part of the neighborhood, this home offers complete peace & quiet. Featuring an ideal OPEN FLOOR PLAN, you're immediately hit w/ spectacular lake views out the back upon entry. Offering 4 beds/2 baths, 2,231 square feet, formal living & dining rooms open to spacious great room & eat-in kitchen. The kitchen features upgraded cabinetry & stainless steel appliances. The master affords lake views, backyard access, en-suite bath w/ soaking tub overlooking the lake, shower, his & hers closets, & separate vanities. Next, are 3 more spacious bedrooms & one bath w/ shower/tub combo. Come visit this spectacular LAKEFRONT SANCTUARY today!

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
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
 

$538,200$657,800$598,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,206
Property Tax -$426
Property Insurance -$71
HOA -$25
Property Management Fees -$99
CASH FLOW
-$426

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.

$598,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.40%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,220

INVESTMENT

$164,220

Down Payment
$149,500
Rehab Estimate
$5,750
Closing Costs
$8,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,500
Loan Amount $448,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,221

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
  • $2,008

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$1,8954$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 21540 N 57th Avenue Glendale, AZ 1
    • 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,231 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 20380 N 55th Drive #0 Glendale, AZ 2
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 1993
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 6711 W Crest Lane Glendale, AZ 3
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1997
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 21310 N 64th Avenue Glendale, AZ 4
    • 3 beds 2 baths ∙ 2,312 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,312 Sqft ∙ Built 1995
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 20253 N 63rd Drive Glendale, AZ 5
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1998
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
PROPERTY LISTING DETAILS
Brock Ludolph
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169841
Last Updated: 12/11/2020
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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