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3528 W Michelle Drive Glendale, AZ 85308

3 Beds 2 Baths 1,542 sqft Built 1981

$289,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $188.00
  • 3 Days on Market
  • MLS # : 6154921
  • Updated Date : 11/01/2020 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,542 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

VACANT! 3 bedroom, 2 bath, single story home! Featuring New Stainless-Steel Stove, Microwave and Dishwasher in the kitchen along with Refinished counter-tops. New Luxury Vinyl Plank flooring in all the high traffic and wet areas. NEW carpeting throughout. Don't miss this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Union Hills Manor West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $101k271k

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

Neighborhood: Union Hills Manor West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9521567

* 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
Mirage Elementary School Primary Regular 458 30 4
Desert Sky Middle School Middle Regular 642 28 6
Deer Valley High School High Regular 1,854 95 5

Mirage Elementary School

  • Education Level: Primary
  • # of students: 458
  • # of teachers: 30
4
GreatSchools Rating

Desert Sky Middle School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 28
6
GreatSchools Rating

Deer Valley High School

  • Education Level: High
  • # of students: 1,854
  • # of teachers: 95
5
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,070
Property Tax -$173
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$9

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,928

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,484

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4954$1,5205$1,625
$1,625
RENT COMPS ANALYSIS
  • 3528 W Michelle Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.90
    •  
  • 3602 W Charleston Avenue Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.03
    •  
  • 18239 N 38th Drive Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1981
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 3702 W Charleston Avenue Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1979
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.91
    •  
  • 3826 W Villa Rita Drive Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1979
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154921
Last Updated: 11/01/2020
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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