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5510 W Ironwood Drive Glendale, AZ 85302

3 Beds 2 Baths 1,670 sqft Built 1981

$305,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $182.63
  • 2 Days on Market
  • MLS # : 6181174
  • Updated Date : 01/16/2021 at 15:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Lovely freshly remodeled Owner's Suite Bath with a beautiful glass block wall, ceramic tile, and quartz countertops. Wood flooring in the sleeping area with exit to backyard. Home has significant refurbishing throughout, including quartz countertops in kitchen, owner's bath, neatly refinished ceilings, and newer built-in appliances. Updated laundry room and deep utility sink in garage. Refrigerator, washer and dryer are included. Added return-air register increases efficiency and comfort. No carpeting in home. Easy care front and rear landscaping featuring rear yard synthetic turf grass. RV Gate access to rear yard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Barrel

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Barrel

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
Heritage Elementary School Primary Regular 673 34 5
Heritage Elementary School Middle Regular 673 34 5
Ironwood High School High Regular 1,987 89 6

Heritage Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 34
5
GreatSchools Rating

Heritage Elementary School

  • Education Level: Middle
  • # of students: 673
  • # of teachers: 34
5
GreatSchools Rating

Ironwood High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 89
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,059
Property Tax -$163
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$21

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.

$305,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$16,662

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
  • $1,499

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3253$1,5754$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 5510 W Ironwood Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5408 W Christy Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1974
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 10010 N 50th Avenue Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 1976
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.87
    •  
  • 5236 W Cheryl Drive Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1977
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 5531 W Brown Street Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1982
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Gary Fenton
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181174
Last Updated: 01/16/2021
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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