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6216 W North Lane Glendale, AZ 85302

4 Beds 2 Baths 1,660 sqft Built 1988

$299,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $180.12
  • 3 Days on Market
  • MLS # : 6165151
  • Updated Date : 11/27/2020 at 11:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,660 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

LOCATION LOCATION LOATION!... COME CHECK OUT THIS CHARMING 4BED 2BATH HOME IN THE HEART OF GLENDALE, WITHIN WALKING DISTANCE FROM GCC (GLENDALE COMMUNITY COLLEGE). THIS BEAUTY OFFERS A DIVING POOL, 4 NICE SPACE BEDROOMS, 2 CAR GARAGE WITH AN EXTRA SIDE PARKING SLAB ENOUGH FOR ABOUT 4 CARS, NO HOA. THIS IS THE ONE YOU BEEN LOOKING FOR.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sahuaro Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $102k276k

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

Neighborhood: Sahuaro Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7821567

* 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
Sahuaro Ranch Elementary School Primary Regular 597 32 5
Sahuaro Ranch Elementary School Middle Regular 597 32 5
Ironwood High School High Regular 1,987 89 6

Sahuaro Ranch Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 32
5
GreatSchools Rating

Sahuaro Ranch Elementary School

  • Education Level: Middle
  • # of students: 597
  • # of teachers: 32
5
GreatSchools Rating

Ironwood High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 89
6
GreatSchools Rating
 

$269,100$328,900$299,000

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 -$1,103
Property Tax -$160
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$42

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.

$299,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.3%
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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$18,821

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
  • $1,473

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4253$1,4834$1,4955$1,600
$1,600
RENT COMPS ANALYSIS
  • 6216 W North Lane Glendale, AZ 1
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6345 W Mountain View Road Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1977
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.79
    •  
  • 6429 W Mercer Lane Glendale, AZ 3
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1985
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,483
    • $0.94
    •  
  • 6759 W Shangri La Road Peoria, AZ 4
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1983
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 5807 W Shangri La Road Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1983
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
PROPERTY LISTING DETAILS
Maged Nagi
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165151
Last Updated: 11/27/2020
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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