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6906 W Abraham Lane Glendale, AZ 85308

3 Beds 2 Baths 1,951 sqft Built 1996

$449,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $230.60
  • 4 Days on Market
  • MLS # : 6172425
  • Updated Date : 12/17/2020 at 17:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,951 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't' miss this single story home on a cul-de-sac in Sonoma Glendale! New AC unit! This home has been refreshed with two-tone interior paint and new carpet. Open floorplan with high ceilings and lots of natural light throughout. Formal living room and an office off the foyer. The kitchen features new granite countertops, an island with a breakfast bar, and stainless steel appliances. Split bedroom floorplan for added privacy. The primary ensuite bathroom has dual sinks, separate shower and garden tub, and a huge walk in closet. The backyard boasts a covered patio, grass area, and fenced pool. Home is fully-equipped with newly installed Google smart home technology. Vacant and ready for viewing, come see!

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
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,660
Property Tax -$335
Property Insurance -$65
HOA -$9
Property Management Fees -$99
CASH FLOW
-$59

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.

$449,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$25,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,0954$2,0955$2,110
$2,110
RENT COMPS ANALYSIS
  • 6906 W Abraham Lane Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.08
    •  
  • 6711 W Crest Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1997
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 7415 W Hill Lane Glendale, AZ 2
    • 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1994
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 21405 N 67th Drive Glendale, AZ 3
    • 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 1997
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.99
    •  
  • 6652 W Rose Garden Lane Glendale, AZ 4
    • 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 1997
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.99
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172425
Last Updated: 12/17/2020
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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