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5834 W Morten Avenue Glendale, AZ 85301

3 Beds 2 Baths 1,842 sqft Built 1958

$230,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $124.86
  • 3 Days on Market
  • MLS # : 6160363
  • Updated Date : 11/14/2020 at 19:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,842 sqft
  • Baths : 2 full
Listing Agent

Es Realty

Listing Agent's Description

Incredible opportunity to own this original ranch style 3bed/2bath Glendale home in the desirable Historical Sands Subdivision. The light and bright interior with tons of potential has many charming details including a brick fireplace and an open concept floor plan. The large kitchen is well appointed. Nicely sized master bedroom with en suite. Step out onto the spacious covered patio and enjoy the beautiful expansive backyard. Easy access to shopping, dining, parks, freeways and so much. This home is priced right and ready for all your personal touches. Don't hesitate. See it today and make it yours!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sands Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Sands Estates

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
Glendale Landmark Middle School Primary Regular 821 48 4
Glendale Landmark Middle School Middle Regular 821 48 4
Glendale High School High Regular 1,719 75 4

Glendale Landmark Middle School

  • Education Level: Primary
  • # of students: 821
  • # of teachers: 48
4
GreatSchools Rating

Glendale Landmark Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 48
4
GreatSchools Rating

Glendale High School

  • Education Level: High
  • # of students: 1,719
  • # of teachers: 75
4
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$849
Property Tax -$132
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$177

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.

$230,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 5.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$35,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,561

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3503$1,4504$1,5205$1,699
$1,699
RENT COMPS ANALYSIS
  • 5834 W Morten Avenue Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.72
    •  
  • 9003 N 53rd Avenue Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1974
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 4601 W Northview Avenue Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1974
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 6428 W Sunnyslope Lane Glendale, AZ 4
    • 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1975
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.85
    •  
  • 5028 W Harmont Drive Glendale, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Edson Salas
Es Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160363
Last Updated: 11/14/2020
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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