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6162 N 88th Lane Glendale, AZ 85305

4 Beds 2 Baths 1,560 sqft Built 1993

$369,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $237.12
  • 4 Days on Market
  • MLS # : 6192502
  • Updated Date : 02/12/2021 at 04:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Elite

Listing Agent's Description

NO HOA! Great location! LARGE LOT! This beautiful home showcases a beautiful backyard, a detached garage (equipped with 220V), pool, AND a storage shed. Plenty of room for your RV, boat or any other toys you have. Covered patio. Fresh interior paint. NEW carpet. Vaulted ceilings. The kitchen has oak cabinets, black appliances, and a pantry. Near schools, shopping, golf course, restaurants, and so much more. Schedule your showing today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: La Buena Vida

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: La Buena Vida

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8991567

* 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
Copper Canyon High School High Regular 2,251 82 1

Copper Canyon High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 82
1
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,285
Property Tax -$296
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$357

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.

$369,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,750

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
  • $1,349

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,4954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 6162 N 88th Lane Glendale, AZ 1
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8779 W Cavalier Drive N Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1991
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 8791 W Cavalier Drive Glendale, AZ 3
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1992
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 6745 N 93rd Avenue #1137 Glendale, AZ 4
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2008
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 6512 N 85th Avenue Glendale, AZ 5
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1987
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
PROPERTY LISTING DETAILS
Michelle Wolf
Keller Williams Elite
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192502
Last Updated: 02/12/2021
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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