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5508 W Michelle Drive Glendale, AZ 85308

3 Beds 2 Baths 1,461 sqft Built 1979

$320,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $219.03
  • 2 Days on Market
  • MLS # : 6203290
  • Updated Date : 03/06/2021 at 01:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,461 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Quaint Glendale starter home for you and your loved ones. Imagine waking up in this 3 bedroom home, having coffee on the back patio..and later, plunging into your very own pool. Too cool for a pool now, try the hot-tub, you can dip year round. Close to shopping, schools and freeways and no HOA. Plenty of room in the back yard for kids and Fido to kick it up. Extended patio area to knock out some of your honey-do's. Come by and take a look, you'll want to stay..it's home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cholla

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $104k366k

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

Neighborhood: Cholla

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 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
 

$288,000$352,000$320,000

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 -$1,111
Property Tax -$228
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$154

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.

$320,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,366

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
  • $0.92

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3953$1,5454$1,6455$1,850
$1,850
RENT COMPS ANALYSIS
  • 5508 W Michelle Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.92
    •  
  • 17424 N 55th Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1978
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 5702 W Wagoner Road Glendale, AZ 3
    • 4 beds 2 baths ∙ 1,639 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,639 Sqft ∙ Built 1985
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.94
    •  
  • 5514 W Wagoner Road Glendale, AZ 4
    • 4 beds 2 baths ∙ 1,624 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,624 Sqft ∙ Built 1983
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.01
    •  
  • 5426 W Bluefield Avenue Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1996
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
PROPERTY LISTING DETAILS
Darryl Bingham
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203290
Last Updated: 03/06/2021
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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