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22866 N 73rd Drive Glendale, AZ 85310

3 Beds 2 Baths 2,080 sqft Built 1996

$450,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $216.35
  • 5 Days on Market
  • MLS # : 6154213
  • Updated Date : 11/02/2020 at 21:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,080 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Highly upgraded single story home in Hillcrest neighborhood (Very popular family neighborhood) This home is one of the popular floor plans in the neighborhood with 3 bedrooms, 2 baths plus a den. There is also a pool and spa as well as a 3 car garage. The roof and tile where replaced about 8 years ago as well as a pre paid solar system was installed. The solar is paid for 13 more years and then the system can be removed or renewed. The outside were just painted recently as well as brand new carpet and interior paint. The bathrooms and kitchen were updated a few years ago as well. The A/C unit is a high efficient newer unit. There are also roll a shield shutters on the home for privacy and to help keep the heat out in the summer. There is artificial grass

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
Copper Creek Elementary School Primary Regular 716 42 8
Copper Creek Elementary School Middle Regular 716 42 8
Mountain Ridge High School High Regular 2,206 94 7

Copper Creek Elementary School

  • Education Level: Primary
  • # of students: 716
  • # of teachers: 42
8
GreatSchools Rating

Copper Creek Elementary School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 42
8
GreatSchools Rating

Mountain Ridge High School

  • Education Level: High
  • # of students: 2,206
  • # of teachers: 94
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,660
Property Tax -$320
Property Insurance -$68
HOA -$10
Property Management Fees -$99
CASH FLOW
-$217

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

$1,940

PROJECTED RENT

0.43%

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

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

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$13,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9403$1,9954$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 22866 N 73rd Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.93
    •  
  • 6711 W Crest Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1997
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 7417 W Candelaria Drive Glendale, AZ 3
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1995
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
  • 7124 W La Senda Drive Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1995
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
  • 7374 W Los Gatos Drive Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1994
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
PROPERTY LISTING DETAILS
Leonard Behie
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154213
Last Updated: 11/02/2020
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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