Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6502 W Oraibi Drive Glendale, AZ 85308

3 Beds 2 Baths 1,387 sqft Built 1997

$358,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $258.11
  • 4 Days on Market
  • MLS # : 6175802
  • Updated Date : 12/31/2020 at 14:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,387 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Glendale one-story home offers a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Highlands at Arrowhead Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $104k364k

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

Neighborhood: The Highlands at Arrowhead Ranch

NeighborhoodNIR 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
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
 

$322,200$393,800$358,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,321
Property Tax -$267
Property Insurance -$54
HOA -$22
Property Management Fees -$99
CASH FLOW
-$273

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.

$358,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$100,620

INVESTMENT

$100,620

Down Payment
$89,500
Rehab Estimate
$5,750
Closing Costs
$5,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,500
Loan Amount $268,500
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$4,759

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,490

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5503$1,6254$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 6502 W Oraibi Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.07
    •  
  • 19009 N 67th Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1986
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 6419 W Adobe Drive Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1997
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
  • 6627 W Kristal Way Glendale, AZ 4
    • 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 1998
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 19520 N 61st Lane Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1998
    property image
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175802
Last Updated: 12/31/2020
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.

BESbswy