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24443 N 35th Drive Glendale, AZ 85310

3 Beds 2 Baths 1,311 sqft Built 1997

INVESTimate

$305,000

List Price

$1,330

$1,197 - $1,463

Rent Est.

$323,239  ( +5.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $232.65
  • 4 Days on Market
  • MLS # : 6121587
  • Updated Date : 08/23/2020 at 23:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,311 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Prepare to feel right at home in this beautiful corner lot! Located in the highly desirable community of North Canyon Ranch, you are just moments away from the 101 highway central to major shops and grocery stores. This 3 bedroom 2 bathroom home is the perfect family home. With an open floorplan that features vaulted ceilings throughout, a kitchen complete with stainless steel appliances, granite countertops, and the perfectly detailed backsplash, this home has it all! Not to mention a newly installed AC unit (2019), and a recently painted exterior, making this home more than move in ready! Enjoy your spacious backyard chateua with lush landscaping, a covered patio, and a fire pit great for entertaining!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Canyon Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k358k

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

Neighborhood: North Canyon 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
Desert Sage Elementary School Primary Regular 590 35 7
Hillcrest Middle School Middle Regular 991 40 8
Sandra Day O'connor High School High Regular 2,481 108 6

Desert Sage Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 35
7
GreatSchools Rating

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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,125
Property Tax -$182
Property Insurance -$53
HOA -$44
Property Management Fees -$99
CASH FLOW
-$173

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.

$305,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.98%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,334

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,3654$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 24443 N 35th Drive Glendale, 1
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4107 W Whispering Wind Drive Glendale, 2
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1992
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 23814 N 36th Drive Glendale, 3
    • 3 beds 3 baths ∙ 1,278 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,278 Sqft ∙ Built 1991
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $1.07
    •  
  • 3959 W Electra Lane Glendale, 4
    • 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 1989
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 3702 W Cielo Grande -- Glendale, 5
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1987
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
PROPERTY LISTING DETAILS
Arman Shields
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121587
Last Updated: 08/23/2020
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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