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22312 N 59th Lane Glendale, AZ 85310

5 Beds 3 Baths 3,066 sqft Built 1994

$525,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $171.23
  • 3 Days on Market
  • MLS # : 6195313
  • Updated Date : 02/19/2021 at 08:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,066 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

This TW Lewis home overlooking the Legend Golf Course with 5 beds, 3 baths and over 3000 SF in Arrowhead Ranch is a rare find. Spacious living areas and large eati-in-kitchen overlooks the Family Room and beautiful rear yard. All bedrooms are generous in size, master bedroom with walk out balcony offering views of the gorgeous Arizona sunsets. Master bath with dual sinks and separate tub/shower and the walk in closet is fantastic! Wonderful opportunity for a view lot in Arrowhead Ranch. Close to all freeway access, shopping, dining and elementary school is a short walk away.

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,824
Property Tax -$374
Property Insurance -$87
HOA -$17
Property Management Fees -$99
CASH FLOW
-$100

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.

$525,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.44%

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$1.6M

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$21,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,491

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3954$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 22312 N 59th Lane Glendale, AZ 2
    • 5 beds 3 baths ∙ 3,066 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,066 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.75
    •  
  • 6307 W Rose Garden Lane Glendale, AZ 1
    • 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 1994
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 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
    •  
  • 6174 W Quail Avenue Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 1995
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 5859 W Del Lago Circle Glendale, AZ 5
    • 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 1994
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.79
    •  
PROPERTY LISTING DETAILS
Elise A Fay
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195313
Last Updated: 02/19/2021
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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