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23837 N 40th Drive Glendale, AZ 85310

4 Beds 2 Baths 2,070 sqft Built 1989

$355,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $171.50
  • 2 Days on Market
  • MLS # : 6194279
  • Updated Date : 02/27/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,070 sqft
  • Baths : 2 full
Listing Agent

Delex Realty

Listing Agent's Description

Lovely and well maintained Glendale home is now for sale! This is an original owner home that is in great shape. Bring your taste and ideas to make it yours! Ideal location in Glendale - close to 17/101 freeways.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunrise at North Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k358k

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

Neighborhood: Sunrise at North Canyon

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
 

$319,500$390,500$355,000

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 -$1,233
Property Tax -$212
Property Insurance -$68
HOA -$3
Property Management Fees -$99
CASH FLOW
$216

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.

$355,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$40,724

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
  • $0.88

    LIST RENT PER SQFT
  • $2,054

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8304$2,0755$2,100
$2,100
RENT COMPS ANALYSIS
  • 23837 N 40th Drive Glendale, AZ 3
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.88
    •  
  • 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
    property image
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 4232 W Soft Wind Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1989
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 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
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.99
    •  
  • 3874 W Misty Willow Lane Glendale, AZ 5
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1991
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
PROPERTY LISTING DETAILS
Houstin Engstrom
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194279
Last Updated: 02/27/2021
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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