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6745 N 93rd Avenue #1111 # 1111 Glendale, AZ 85305

3 Beds 3 Baths 1,809 sqft Built 2008

INVESTimate

$280,000

List Price

$1,440

$1,296 - $1,584

Rent Est.

$299,544  ( +6.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $154.78
  • 6 Days on Market
  • MLS # : 6120856
  • Updated Date : 08/21/2020 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,809 sqft
  • Baths : 3 full
Listing Agent

Acquire Realty

Listing Agent's Description

Highly desirable 3-bedroom end unit condo at the Quarter Condominiums. This condo features a 2-car garage on the 1st level, one bedroom on the 2nd level (main floor), and 2 master bedrooms and a loft on the 3rd level. The great room has a gas fireplace and opens out to a private balcony. Kitchen has granite counters and maple cabinets. The complex features heated pools, a spa, a fitness center and clubhouse. Gated community. Located only about a quarter mile from Westgate which includes restaurants, a movie theater and the Glendale sports stadium for the Coyotes hockey and Cardinals football teams.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Yucca

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Yucca

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8491567

* 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
Desert Mirage Elementary School Primary Regular 642 30 5
Desert Mirage Elementary School Middle Regular 642 30 5
Copper Canyon High School High Regular 2,251 82 1

Desert Mirage Elementary School

  • Education Level: Primary
  • # of students: 642
  • # of teachers: 30
5
GreatSchools Rating

Desert Mirage Elementary School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 30
5
GreatSchools Rating

Copper Canyon High School

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

$252,000$308,000$280,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,033
Property Tax -$224
Property Insurance -$62
HOA -$326
Property Management Fees -$99
CASH FLOW
-$304

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.

$280,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.98%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4493$1,4954$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 6745 N 93rd Avenue #1111 Glendale, 1
    • 3 beds 3 baths ∙ 1,809 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,809 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.80
    •  
  • 8950 W Ocotillo Road Glendale, 2
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1996
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.82
    •  
  • 8791 W Cavalier Drive Glendale, 3
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1992
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 6745 N 93rd Avenue #1137 Glendale, 4
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2008
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 6120 N 86th Drive Glendale, 5
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2000
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
PROPERTY LISTING DETAILS
Keola Kirkwood
Acquire Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120856
Last Updated: 08/21/2020
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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