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6041 W Morrow Drive Glendale, AZ 85308

5 Beds 3 Baths 2,603 sqft Built 1995

$479,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $184.36
  • 4 Days on Market
  • MLS # : 6169490
  • Updated Date : 12/12/2020 at 01:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,603 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Stunning 5 bedroom 3 bath home in Coppercrest with a view lot! Home backs to wash and skunk creek trail. Extremely private north/south facing rear yard. One bedroom and full bath downstairs. Gorgeous Newly remodeled kitchen with solid cherry wood cabinetry, Granite counters, a built in subzero refrigerator, pantry, tile backsplash & stainless dishwasher. Beautiful master bedroom featuring a private balcony with retractable electric awning, full bath with dual sinks, newly renovated walk in shower & soaking tub. Large secondary bedrooms, neutral decor, soaring vaulted ceilings & tile in all the right places. Step outside to a beautiful entertainers dream! Pool, spa, BBQ island with Beef Eater grill & side burner. Close to schools, shopping, restaurants, hiking trails, golf courses, and

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hearthstone Place-Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $104k448k

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

Neighborhood: Hearthstone Place-Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9522201

* 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
Highland Lakes School Primary Regular 1,082 66 9
Highland Lakes School Middle Regular 1,082 66 9
Deer Valley High School High Regular 1,854 95 5

Highland Lakes School

  • Education Level: Primary
  • # of students: 1,082
  • # of teachers: 66
9
GreatSchools Rating

Highland Lakes School

  • Education Level: Middle
  • # of students: 1,082
  • # of teachers: 66
9
GreatSchools Rating

Deer Valley High School

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

$431,910$527,890$479,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,771
Property Tax -$342
Property Insurance -$78
HOA -$11
Property Management Fees -$99
CASH FLOW
-$10

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.

$479,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$31,802

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
  • $2,434

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,3954$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 6041 W Morrow Drive Glendale, AZ 1
    • 5 beds 3 baths ∙ 2,603 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,603 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5456 W Kristal Way Glendale, AZ 2
    • 5 beds 3 baths ∙ 2,658 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,658 Sqft ∙ Built 1998
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 5922 W Sack Drive Glendale, AZ 3
    • 5 beds 3 baths ∙ 2,450 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,450 Sqft ∙ Built 1996
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.98
    •  
  • 18424 N 59th Lane Glendale, AZ 4
    • 5 beds 3 baths ∙ 2,656 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,656 Sqft ∙ Built 2002
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.98
    •  
  • 19405 N 61st Avenue Glendale, AZ 5
    • 5 beds 4 baths ∙ 2,895 Sqft ∙ Built 1997 5 beds 4 baths ∙ 2,895 Sqft ∙ Built 1997
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jennifer Wehner
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169490
Last Updated: 12/12/2020
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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