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2446 E Glass Lane Phoenix, AZ 85042

3 Beds 3 Baths 2,836 sqft Built 2001

$445,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $156.91
  • 4 Days on Market
  • MLS # : 6178656
  • Updated Date : 01/16/2021 at 18:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,836 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Biltmore Partners

Listing Agent's Description

Stunning home located off the 2nd fairway of Legacy Golf Club in Phoenix! Open and inviting entryway with downstairs master suite. Vaulted ceilings open up to large kitchen space and private family room. Spacious, oversized loft upstairs with walkout patio to enjoy the beautiful golf course views and Arizona sunsets. Great neighborhood and central location close to freeways, shopping, restaurants, and more. Come see your new home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fairways at the Legacy

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k359k

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

Neighborhood: Fairways at the Legacy

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
T.g. Barr School Primary Regular 516 29 2
T.g. Barr School Middle Regular 516 29 2
South Mountain High School High Regular 1,706 102 2

T.g. Barr School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

T.g. Barr School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,546
Property Tax -$298
Property Insurance -$82
HOA -$125
Property Management Fees -$99
CASH FLOW
$270

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.

$445,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.1%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$48,661

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,489

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9753$2,4204$2,7505$2,795
$2,795
RENT COMPS ANALYSIS
  • 2446 E Glass Lane Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,836 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,836 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.85
    •  
  • 6846 S 26th Place Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 2639 E Darrel Road Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2000
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.78
    •  
  • 2454 E Glass Lane Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,836 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,836 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
  • 2445 E Darrel Road Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2000
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jeffry Edward Klein
Keller Williams Realty Biltmore Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178656
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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