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4720 W Echo Lane Glendale, AZ 85302

4 Beds 2 Baths 2,132 sqft Built 1974

$360,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $168.86
  • 3 Days on Market
  • MLS # : 6209754
  • Updated Date : 03/19/2021 at 22:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,132 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Fantastic Ranch Style Home! This 3 bed, 2 bath property nestled in a wonderful neighborhood provides 2 carport spaces and a double-door entrance. Open concept interior with wood-burning fireplace, neutral color palette/tile floors, & ceiling fans. Stunning new eat-in kitchen w/breakfast bar, center island, granite counters/backsplash, , recessed lighting, SS appliances, and white cabinetry w/crown molding. Spacious family room. Continue into the bright master bedroom to find a new private en-suite with vessel sinks . You won't want to leave this paradise backyard with grassy landscaping, covered patio, spa, and sparkling blue pool. Don't let this incredible opportunity pass you by! Start calling today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Golden Palms-Northern Palms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k303k

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

Neighborhood: Golden Palms-Northern Palms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Apollo High School High Regular 1,976 91 6

Apollo High School

  • Education Level: High
  • # of students: 1,976
  • # of teachers: 91
6
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,250
Property Tax -$207
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
-$55

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.

$360,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,6993$1,7754$1,8755$1,896
$1,896
RENT COMPS ANALYSIS
  • 4720 W Echo Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.74
    •  
  • 5028 W Harmont Drive Glendale, AZ 2
    • 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 1975
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.85
    •  
  • 4336 W Carol Avenue Glendale, AZ 3
    • 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 1971
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
  • 4622 W Echo Lane Glendale, AZ 4
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1971
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.95
    •  
  • 4643 W Mountain View Road Glendale, AZ 5
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1976
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,896
    • $0.93
    •  
PROPERTY LISTING DETAILS
Dallas Andrews
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209754
Last Updated: 03/19/2021
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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