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4056 W Charlotte Drive Glendale, AZ 85310

4 Beds 3 Baths 2,723 sqft Built 1991

$400,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $146.90
  • 2 Days on Market
  • MLS # : 6180182
  • Updated Date : 01/17/2021 at 02:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,723 sqft
  • Baths : 3 full
Listing Agent

Delex Realty

Listing Agent's Description

Open House Jan 16 &17th 11a-2p. Beautiful tri-level home welcomes you the moment you walk in the door. If you have been looking for that house that has everything and has all the important updates, look no further. Spacious split floor plan boasts 4 bed 3 bath w/private pool will not disappoint you. 2020: NEW ROOF, AC, EXTERIOR PAINT & GARAGE DOORS. 2013: TRIPLE PANE WINDOWS & SOLAR. Half a block walk from Desert Sage Elementary School.

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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,389
Property Tax -$238
Property Insurance -$80
HOA -$3
Property Management Fees -$99
CASH FLOW
$280

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.

$400,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$49,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,274

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9953$2,0904$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 4056 W Charlotte Drive Glendale, AZ 3
    • 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.77
    •  
  • 4102 W Mariposa Grande -- Glendale, AZ 1
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1989
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.80
    •  
  • 23813 N 41st Avenue Glendale, AZ 2
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1988
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 4010 W Creedance Boulevard Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 1989
    property image
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 24409 N 40th Avenue Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 1990
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Lisa Swank
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180182
Last Updated: 01/17/2021
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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