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21546 N 59th Lane Glendale, AZ 85308

5 Beds 3 Baths 2,676 sqft Built 1994

$499,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $186.81
  • 5 Days on Market
  • MLS # : 6161929
  • Updated Date : 11/18/2020 at 12:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,676 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Professional Partners

Listing Agent's Description

Spectacular two story property in Glendale is everything you've been looking for! With mature landscaping, 3 car garage, and RV gate this 5 bedrooms home has space for everyone! Set foot inside to discover soaring ceilings, tile flooring in traffic areas, tons of natural light, a large great room, designer paint, and family room w/fireplace. Amazing eat-in kitchen is a chef's dream with stainless steel appliances, large cabinetry, island w/breakfast bar, and bright breakfast nook. Spacious master suite has a lavish bath with double sinks, separate tub & shower, and walk-in closet; you'll also find a cozy balcony overlooking the pool and the lake. Backyard offers faux flagstone covered patio, paved Ramada, and fenced pool w/seating area. Solar too!

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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,844
Property Tax -$356
Property Insurance -$79
HOA -$17
Property Management Fees -$99
CASH FLOW
-$45

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.

$499,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.47%

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$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$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$29,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,295

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3003$2,3504$2,3955$2,500
$2,500
RENT COMPS ANALYSIS
  • 21546 N 59th Lane Glendale, AZ 3
    • 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.88
    •  
  • 6083 W Abraham Lane Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 21622 N 59th Lane Glendale, AZ 2
    • 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
    •  
  • 6283 W Lone Cactus Drive Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.85
    •  
  • 6105 W Irma Lane Glendale, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Lisa Olson
Keller Williams Realty Professional Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161929
Last Updated: 11/18/2020
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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