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5944 W Grovers Avenue Glendale, AZ 85308

5 Beds 3 Baths 3,209 sqft Built 1979

INVESTimate

$600,000

List Price

$2,490

$2,241 - $2,739

Rent Est.

$645,240  ( +7.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $186.97
  • 4 Days on Market
  • MLS # : 6120441
  • Updated Date : 08/25/2020 at 15:37
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,209 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Perfect entertaining home with trees, grass and a pool. 5 bdrm, 2.5 bath home, or 3 bdrm w/ 2 offices - just add closets. all on .85 acres. Horse privileges and a conditional use permit attached to property allowing for a home office (See docs). Kitchen is one year old w/ pearl white cabinets, granite counter tops, added walk in pantry and stainless steel appliances. Large open concept living spaces and generous bedroom sizes. Master bdrm boasts a fireplace and extra sitting room along with a huge walk-in closet. Separate laundry room and an added game room. All the stuff you can't see has been upgraded, electric panel, one AC unit, insulation, and attic plumbing. The back area of the property has covered parking, two storage areas and plenty of space for the RV's or add horse stalls

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sahuaro

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: Sahuaro

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9491567

* 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
Greenbrier Elementary School Primary Regular 387 25 7
Greenbrier Elementary School Middle Regular 387 25 7
Deer Valley High School High Regular 1,854 95 5

Greenbrier Elementary School

  • Education Level: Primary
  • # of students: 387
  • # of teachers: 25
7
GreatSchools Rating

Greenbrier Elementary School

  • Education Level: Middle
  • # of students: 387
  • # of teachers: 25
7
GreatSchools Rating

Deer Valley High School

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

$540,000$660,000$600,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,214
Property Tax -$427
Property Insurance -$90
Property Management Fees -$99
CASH FLOW
-$340

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.

$600,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$16,035

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
  • $2,495

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$2,4954$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 5944 W Grovers Avenue Glendale, 1
    • 5 beds 3 baths ∙ 3,209 Sqft ∙ Built 1979 5 beds 3 baths ∙ 3,209 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 19408 N 61st Avenue Glendale, 2
    • 5 beds 4 baths ∙ 2,895 Sqft ∙ Built 1997 5 beds 4 baths ∙ 2,895 Sqft ∙ Built 1997
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
  • 7005 W Muriel Drive Glendale, 3
    • 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 1997
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 6785 W Marco Polo Road Glendale, 4
    • 4 beds 3 baths ∙ 3,346 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,346 Sqft ∙ Built 1996
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 6006 W Kerry Lane Glendale, 5
    • 5 beds 4 baths ∙ 3,458 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,458 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
PROPERTY LISTING DETAILS
Diana C Heard
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120441
Last Updated: 08/25/2020
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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