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23631 N 40th Avenue Glendale, AZ 85310

4 Beds 3 Baths 2,099 sqft Built 1986

$430,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $204.86
  • 2 Days on Market
  • MLS # : 6212866
  • Updated Date : 03/27/2021 at 16:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,099 sqft
  • Baths : 3 full
Listing Agent

Sterling Signature Properties

Listing Agent's Description

This is the home you've been waiting for! You'll find updates galore in this 4 bedroom, 3 full bath home that is situated on the perfect corner lot. The kitchen is gorgeous with custom soft-close cabinets and new stainless steel appliances. The family room has an amazing stone fireplace feature wall, and the fireplace is wood-burning! One bedroom and full bathroom just remodeled downstairs. Upstairs you'll find new flooring and baseboards throughout and the owner's suite and two additional bedrooms. The owner's bathroom is huge with brand new dual vanities, large walk-in closet, and separate shower and tub. Also new inside are the doors, door hardware, light fixtures, blinds, ceiling fans, and closet organization systems. This home was just painted inside and out and a new RV gate was

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Palm Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k358k

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

Neighborhood: Palm Estates

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
Sandra Day O'connor High School High Regular 2,481 108 6
Hillcrest Middle School Middle Unknown NA

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 991
  • # of teachers: 40
8
GreatSchools Rating

Sandra Day O'connor High School

  • Education Level: High
  • # of students: 2,481
  • # of teachers: 108
6
GreatSchools Rating

Hillcrest Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,494
Property Tax -$256
Property Insurance -$68
HOA -$3
Property Management Fees -$99
CASH FLOW
-$90

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.

$430,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$17,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,057

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8303$1,9954$2,0755$2,200
$2,200
RENT COMPS ANALYSIS
  • 23631 N 40th Avenue Glendale, AZ 2
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.87
    •  
  • 4202 W Soft Wind Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1989
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 23851 N 43rd Drive Glendale, AZ 3
    • 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 1992
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 4050 W Avenida Del Sol Lane Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1988
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.99
    •  
  • 4335 W Electra Lane Glendale, AZ 5
    • 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 1994
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Sarah E Blanton
Sterling Signature Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212866
Last Updated: 03/27/2021
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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