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21613 N 59th Drive Glendale, AZ 85308

4 Beds 3 Baths 2,819 sqft Built 1994

$399,900

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $141.86
  • 4 Days on Market
  • MLS # : 6189658
  • Updated Date : 02/05/2021 at 15:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,819 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tempus West Valley Realty

Listing Agent's Description

SOUGHT AFTER LOCATION IN ARROWHEAD RANCH LOCATED ON A CUL-DE-SAC. FOUR BEDROOMS, TWO AND A HALF BATHROOM. ONE BEDROOM, DEN, FORMAL LIVING ROOM AND BATHROOM DOWNSTAIRS. BATHROOM ALSO HAS ACCESS TO OUTSIDE. SPIRAL STARIWAY LEADING TO LOFT AND THREE BEDROOMS UPSTAIRS WITH ADDITIONAL STORAGE. LARGE BACKYARD WITH POOL, SPA AND RV GATES. KITCHEN OFFERS WALK-IN PANTRY, GAS RANGE AND KITCHEN ISLAND. WORK NEEDS TO BE DONE INSIDE OF HOME. PROPERTY IS BEING SOLD AS IS.

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
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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,389
Property Tax -$290
Property Insurance -$82
HOA -$17
Property Management Fees -$99
CASH FLOW
$393

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.

$399,900

PROJECTED PRICE

$2,270

PROJECTED RENT

0.57%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$61,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,445

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,3003$2,3954$2,4255$2,500
$2,500
RENT COMPS ANALYSIS
  • 21613 N 59th Drive Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.81
    •  
  • 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 3
    • 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
    •  
  • 6478 W Tonopah Drive Glendale, AZ 4
    • 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 1996
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.86
    •  
  • 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
Michele Moorehead
Tempus West Valley Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189658
Last Updated: 02/05/2021
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.

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