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22051 N 73rd Avenue Glendale, AZ 85310

3 Beds 3 Baths 2,337 sqft Built 1994

$450,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $192.55
  • 5 Days on Market
  • MLS # : 6208059
  • Updated Date : 03/17/2021 at 22:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,337 sqft
  • Baths : 3 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Beautiful Home!! Lots of New!! Newly painted inside. Remodeled Kitchen includes quartz counter tops, cabinets, backsplash, sink and garbage disposal. New flooring, porcelain tile and carpet. Replaced base boards and light fixtures throughout the home. All 3 bathrooms updated with vanities, quartz counter tops and toilets. New water heater, garage door motor and yes even the cool decking in the back yard was resurfaced.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hillcrest Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $104k367k

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

Neighborhood: Hillcrest Ranch

NeighborhoodNIR 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,563
Property Tax -$335
Property Insurance -$73
HOA -$10
Property Management Fees -$99
CASH FLOW
-$21

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.

$450,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$23,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,144

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0603$2,1004$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 22051 N 73rd Avenue Glendale, AZ 2
    • 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,337 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.88
    •  
  • 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
    •  
  • 7806 W Salter Drive Peoria, AZ 3
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 22018 N 73rd Avenue Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1994
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 6981 W Melinda Lane Glendale, AZ 5
    • 3 beds 2 baths ∙ 2,443 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,443 Sqft ∙ Built 1998
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jeffrey Swarens
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208059
Last Updated: 03/17/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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