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3724 W Michigan Avenue Glendale, AZ 85308

3 Beds 3 Baths 1,480 sqft Built 1985

$295,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $199.32
  • 2 Days on Market
  • MLS # : 6190742
  • Updated Date : 02/06/2021 at 01:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

DONT LOOK FURTHER!!! You have found the perfect home that you have been looking for. This stunning corner lot beauty is fully remodeled and has upgrades everywhere you look. New flooring, paint, and fixtures throughout. Step into the home into a spacious great room with wood like tile flooring. The kitchen offers stainless steel appliances, breakfast bar, quartz counter tops, tile back splash, and contemporary cabinetry. There are new ceiling fans in the bedrooms and living room. Both full bathrooms have tiled walls in the shower. The back yard is enormous and boasts easy to maintain landscaping, shed, covered patio, and tons of room to add a future swimming pool, entertain or just relax. Literally just minutes from the I-17 and the 101. SCHEDULE YOUR SHOWING NOW!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Courtland Village North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Courtland Village North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9031567

* 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 Sky Middle School Middle Regular 642 28 6
Deer Valley High School High Regular 1,854 95 5

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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,025
Property Tax -$176
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$15

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.

$295,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.45%

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

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,425

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3503$1,4504$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 3724 W Michigan Avenue Glendale, AZ 1
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.91
    •  
  • 3124 W Libby Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1977
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 18617 N 42nd Drive Glendale, AZ 3
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1990
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 18239 N 38th Drive Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1981
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 18806 N 42nd Drive Glendale, AZ 5
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1987
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Juan P Genesir
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190742
Last Updated: 02/06/2021
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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