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6787 W Abraham Lane Glendale, AZ 85308

4 Beds 3 Baths 2,890 sqft Built 1998

$479,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $165.74
  • 3 Days on Market
  • MLS # : 6170529
  • Updated Date : 12/11/2020 at 20:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,890 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Nice Morrison home in the Lake Subdivision of Sierra Verde at the heart of Arrowhead Ranch! This northern Glendale neighborhood boasts lush green walking trails, well maintained common areas and amenities rich park. 4 bedrooms, 3 full baths, an office den perfect for working from home, or a game room for the kids! Spacious, open island kitchen floor plan has ample cabinets, Black appliances, A chef's delight! Large bay window overlooks the pebble-tech pool, No 2 story houses behind for privacy. Oversized Formal living room, dining and family room is great for entertaining! Master bedroom is very spacious. Master bath has double sinks, separate tub and shower and large closet. 3 Car garage. Excellent premier location with top ranked Deer Valley Unified school district! A+ schools.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cholla

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $104k366k

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

Neighborhood: Cholla

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
Sierra Verde School Primary Regular 966 51 9
Sierra Verde School Middle Regular 966 51 9
Mountain Ridge High School High Regular 2,206 94 7

Sierra Verde School

  • Education Level: Primary
  • # of students: 966
  • # of teachers: 51
9
GreatSchools Rating

Sierra Verde School

  • Education Level: Middle
  • # of students: 966
  • # of teachers: 51
9
GreatSchools Rating

Mountain Ridge High School

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

$431,100$526,900$479,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,767
Property Tax -$357
Property Insurance -$84
HOA -$9
Property Management Fees -$99
CASH FLOW
$204

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.

$479,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$53,818

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,413

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3954$2,4255$2,520
$2,520
RENT COMPS ANALYSIS
  • 6787 W Abraham Lane Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.87
    •  
  • 6307 W Rose Garden Lane Glendale, AZ 1
    • 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 1994
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 20690 N 70th Drive Glendale, AZ 2
    • 5 beds 3 baths ∙ 2,736 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,736 Sqft ∙ Built 1997
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 6283 W Lone Cactus Drive Glendale, AZ 3
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1988
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.85
    •  
  • 6478 W Tonopah Drive Glendale, AZ 4
    • 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 1996
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.86
    •  
PROPERTY LISTING DETAILS
Marc Jones
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170529
Last Updated: 12/11/2020
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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