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6214 W Paradise Lane Glendale, AZ 85306

3 Beds 2 Baths 1,505 sqft Built 1992

$319,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $212.56
  • 2 Days on Market
  • MLS # : 6163316
  • Updated Date : 11/20/2020 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,505 sqft
  • Baths : 2 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

** SHOWINGS TO BEGIN SATURDAY 11/21 AT 12 NOON! **Bring your toys! NO HOA W/ RV GATE! Remodeled property on a great lot. Recent updates include fresh interior/exterior paint, brand new carpet, stainless steel appliances, light/plumbing fixtures and new landscaping rock! Both showers are tile! Get it while you can! Buyer/Buyer Broker to verify all information as fact. Owner/agent.** Cabinet door in guest bath was damaged and is being custom made. Will be replaced by COE **

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
Foothills Elementary School Primary Regular 677 37 5
Foothills Elementary School Middle Regular 677 37 5
Cactus High School High Regular 1,283 61 5

Foothills Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 37
5
GreatSchools Rating

Foothills Elementary School

  • Education Level: Middle
  • # of students: 677
  • # of teachers: 37
5
GreatSchools Rating

Cactus High School

  • Education Level: High
  • # of students: 1,283
  • # of teachers: 61
5
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,180
Property Tax -$171
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$57

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.

$319,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$19,042

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
  • $1,460

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2603$1,2954$1,2955$1,485
$1,485
RENT COMPS ANALYSIS
  • 6214 W Paradise Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6710 W Kings Avenue Peoria, AZ 2
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1986
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.96
    •  
  • 15611 N 59th Drive Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1982
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.98
    •  
  • 7008 W Wanda Lynn Lane Peoria, AZ 4
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1974
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.96
    •  
  • 6135 W Karen Lee Lane Glendale, AZ 5
    • 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1979
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.98
    •  
PROPERTY LISTING DETAILS
Grant Smith
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163316
Last Updated: 11/20/2020
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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