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3908 W Goodman Drive Glendale, AZ 85308

3 Beds 2 Baths 1,883 sqft Built 2003

$340,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $180.56
  • 2 Days on Market
  • MLS # : 6155221
  • Updated Date : 11/02/2020 at 16:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,883 sqft
  • Baths : 2 full
Listing Agent

3rd Base Realty Group Llc

Listing Agent's Description

Beautiful 3 bed 2 Bath 2 car garage home. This single level home has formal Dining, Living and Family Room. Kitchen features granite countertops and island for plenty of storage and counter space. Master bath has dual sinks with separate shower and tub combo. The backyard is amazing with a variety of mature fruit trees and water fountain. The home has easy access from the 101 Loop and I17 highway

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cerrano

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k297k

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

Neighborhood: Cerrano

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9521636

* 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
Park Meadows Elementary School Primary Regular 574 37 8
Park Meadows Elementary School Middle Regular 574 37 8
Barry Goldwater High School High Regular 1,856 88 4

Park Meadows Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 37
8
GreatSchools Rating

Park Meadows Elementary School

  • Education Level: Middle
  • # of students: 574
  • # of teachers: 37
8
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,254
Property Tax -$203
Property Insurance -$64
HOA -$22
Property Management Fees -$99
CASH FLOW
$8

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.

$340,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.49%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$26,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,836

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7955$2,000
$2,000
RENT COMPS ANALYSIS
  • 3908 W Goodman Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 4419 W Yorkshire Drive Glendale, AZ 1
    • 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 1985
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 19817 N 45th Avenue Glendale, AZ 3
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 1989
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 18777 N 43rd Avenue #40 Glendale, AZ 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
  • 4026 W Ross Avenue Glendale, AZ 5
    • 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 2019
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jeff Shelton
3rd Base Realty Group Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155221
Last Updated: 11/02/2020
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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