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21627 N 61st Avenue Glendale, AZ 85308

4 Beds 3 Baths 2,501 sqft Built 1993

$510,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $203.92
  • 2 Days on Market
  • MLS # : 6181976
  • Updated Date : 01/17/2021 at 04:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,501 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

Beautiful lake front property is located in Arrowhead Ranch. Plank tile floors throughout the main living areas. Soft color palette. Formal living & dining. Spacious open floor plan for the kitchen, dining, and family room. The family room has a beautiful fireplace. The stunning eat-in kitchen has an abundance of white custom cabinets, quartz counters, subway tiled backsplash, island is cobalt blue and has breakfast bar seating, electric cooktop, wall mount oven & microwave, and etched glass sliding doors to the pantry. Generous sized bedrooms have plush carpet and vaulted ceilings. The owner's suite has a private entrance, vaulted ceilings, full bath, and a walk-in closet. The backyard has a covered patio and amazing views of the mountains & lake! Close to schools, shopping, freeways.

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
 

$459,000$561,000$510,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,771
Property Tax -$363
Property Insurance -$76
HOA -$6
Property Management Fees -$99
CASH FLOW
-$285

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.

$510,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.40%

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

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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,145

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0303$2,2994$2,3005$2,395
$2,395
RENT COMPS ANALYSIS
  • 21627 N 61st Avenue Glendale, AZ 2
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.81
    •  
  • 6803 W Rose Garden Lane Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1997
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 6018 W Potter Drive Glendale, AZ 3
    • 5 beds 3 baths ∙ 2,671 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,671 Sqft ∙ Built 1994
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.86
    •  
  • 21622 N 59th Lane Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1994
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 6283 W Lone Cactus Drive Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ivette Hernandez
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181976
Last Updated: 01/17/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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