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4945 W Michigan Avenue Glendale, AZ 85308

3 Beds 2 Baths 1,286 sqft Built 1984

$294,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $228.62
  • 4 Days on Market
  • MLS # : 6154660
  • Updated Date : 11/02/2020 at 09:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,286 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Glendale one-story home offers quartz countertops. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8411567

* 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
Bellair Elementary School Primary Regular 475 30 6
Bellair Elementary School Middle Regular 475 30 6
Deer Valley High School High Regular 1,854 95 5

Bellair Elementary School

  • Education Level: Primary
  • # of students: 475
  • # of teachers: 30
6
GreatSchools Rating

Bellair Elementary School

  • Education Level: Middle
  • # of students: 475
  • # of teachers: 30
6
GreatSchools Rating

Deer Valley High School

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

$264,600$323,400$294,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$1,085
Property Tax -$175
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$151

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.

$294,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,660

INVESTMENT

$83,660

Down Payment
$73,500
Rehab Estimate
$5,750
Closing Costs
$4,410

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,500
Loan Amount $220,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,270

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2953$1,3004$1,4755$1,495
$1,495
RENT COMPS ANALYSIS
  • 4945 W Michigan Avenue Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4725 W Continental Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1975
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 4439 W Wescott Drive Glendale, AZ 3
    • 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 1984
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 4817 W Kimberly Way Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1982
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.00
    •  
  • 4932 W Michelle Drive Glendale, AZ 5
    • 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1984
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154660
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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