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6904 W Morrow Drive Glendale, AZ 85308

3 Beds 3 Baths 2,478 sqft Built 1987

$429,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $173.49
  • 3 Days on Market
  • MLS # : 6190611
  • Updated Date : 02/06/2021 at 03:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Congress Realty, Inc.

Listing Agent's Description

Fantastic pool home backing Arrowhead Country Club Golf Course! This lovely 3 BD/2BA homeis very spacious with 2,478 square feet of living space, an open floorplan, soaring high ceilings,ceramic tile flooring throughout the main living areas, and tons of natural light throughout.Great space for entertaining includes a formal living & dining room, as well as a large familyroom with wood burning fireplace. Entertainer's kitchen overlooks the pool and featuresgranite countertops, large breakfast bar island, extended kitchen cabinets with desk area, andstainless-steel appliances. Master bedroom conveniently located on the first floor and featuresan en-suite bath, dual closets, and sliding glass doors out to the backyard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arrowhead Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $104k387k

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

Neighborhood: Arrowhead Ranch

ZipNIR 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
Mountain Ridge High School High Regular 2,206 94 7
Mountain Ridge High School High Unknown NA

Mountain Ridge High School

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

Mountain Ridge High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,493
Property Tax -$306
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
$76

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.

$429,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$30,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0454$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 6904 W Morrow Drive Glendale, AZ 4
    • 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.83
    •  
  • 6920 W Morrow Drive Glendale, AZ 1
    • 4 beds 2 baths ∙ 2,233 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,233 Sqft ∙ Built 1987
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 7014 W Mcrae Way Glendale, AZ 2
    • 3 beds 2 baths ∙ 2,269 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,269 Sqft ∙ Built 1986
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 18702 N 67th Drive Glendale, AZ 3
    • 3 beds 3 baths ∙ 2,346 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,346 Sqft ∙ Built 1986
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.87
    •  
  • 6921 W Sack Drive Glendale, AZ 5
    • 4 beds 2 baths ∙ 2,326 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,326 Sqft ∙ Built 1990
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jared A English
Congress Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190611
Last Updated: 02/06/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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