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6949 W Luke Avenue Glendale, AZ 85303

3 Beds 2 Baths 1,112 sqft Built 1973

$238,000

List Price

$890

$801 - $979

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $214.03
  • 3 Days on Market
  • MLS # : 6193776
  • Updated Date : 02/13/2021 at 00:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,112 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

Welcome to the perfect starter home! This 3 bedroom, 2 bath home is centrally located to 3 family parks. Open concept floor plan with connecting family room, kitchen, and dining room is perfect for entertaining! Completely updated master bathroom (2020). French doors lead to a wide open backyard with covered patio and perfect blank slate to create your dream backyard. Hurry, this won't last long!

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
Bicentennial South School Primary Regular 674 36 2
Independence High School High Regular 2,011 89 3

Bicentennial South School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
2
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,011
  • # of teachers: 89
3
GreatSchools Rating
 

$214,200$261,800$238,000

PURCHASE PRICE

$801$979$890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $890
EXPENSES Loan Payment -$827
Property Tax -$137
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$221

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.

$238,000

PROJECTED PRICE

$890

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,820

INVESTMENT

$68,820

Down Payment
$59,500
Rehab Estimate
$5,750
Closing Costs
$3,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$827

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,500
Loan Amount $178,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$1,596

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $890

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $898

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$890
1$8902$1,0253$1,0954$1,0955$1,149
$1,149
RENT COMPS ANALYSIS
  • 6949 W Luke Avenue Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $890
    • $0.80
    •  
  • 4102 N 69th Lane #1407 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,264 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,264 Sqft ∙ Built 1984
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.81
    •  
  • 7728 W Reade Avenue Glendale, AZ 3
    • 3 beds 1 baths ∙ 1,401 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,401 Sqft ∙ Built 1972
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.78
    •  
  • 5817 N 59th Drive Glendale, AZ 4
    • 3 beds 3 baths ∙ 1,331 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,331 Sqft ∙ Built 1984
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.82
    •  
  • 6802 W Highland Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,149
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kelly Cook
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193776
Last Updated: 02/13/2021
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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