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6167 W Irma Lane Glendale, AZ 85308

3 Beds 2 Baths 1,854 sqft Built 1995

$450,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $242.72
  • 5 Days on Market
  • MLS # : 6171771
  • Updated Date : 12/16/2020 at 17:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Equity Realty Group, Llc

Listing Agent's Description

Opportunity to see the golf course from your patio. Upgraded home, floor, kitchen, baths. Large gate for extra parking.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arrowhead Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $104k387k

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

Neighborhood: Arrowhead Ranch

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9521981

* 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
Legend Springs Elementary School Primary Regular 647 36 9
Legend Springs Elementary School Middle Regular 647 36 9
Mountain Ridge High School High Regular 2,206 94 7

Legend Springs Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 36
9
GreatSchools Rating

Legend Springs Elementary School

  • Education Level: Middle
  • # of students: 647
  • # of teachers: 36
9
GreatSchools Rating

Mountain Ridge High School

  • Education Level: High
  • # of students: 2,206
  • # of teachers: 94
7
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,660
Property Tax -$320
Property Insurance -$63
HOA -$17
Property Management Fees -$99
CASH FLOW
-$310

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.

$450,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,630

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
  • $1,863

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,8504$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 6167 W Irma Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5905 W Blackhawk Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1992
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 6378 W Matilda Lane Glendale, AZ 3
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1998
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 6417 W Matilda Lane Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1998
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 6068 W Irma Lane Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1994
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.08
    •  
PROPERTY LISTING DETAILS
Adrian Cirjan
Equity Realty Group, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171771
Last Updated: 12/16/2020
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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