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7018 W Morning Dove Drive Glendale, AZ 85308

4 Beds 2 Baths 2,443 sqft Built 1998

$525,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $214.90
  • 3 Days on Market
  • MLS # : 6179648
  • Updated Date : 01/15/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,443 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Over 100k in upgrades! This stunning Glendale home features high end finishes such as granite countertops, Hand Scraped California Monticito Laminate, and Mexican travertine tile. The kitchen is a home chef's delight with double ovens! You'll enjoy the backyard all year round with a deep diving pebble tech pool that has a beautiful water feature. This home sits in the perfect location close to the 101 freeway as well as tons of dining & shopping locations in Arrowhead area.

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,824
Property Tax -$391
Property Insurance -$75
HOA -$10
Property Management Fees -$99
CASH FLOW
$11

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.

$525,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.46%

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

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$29,839

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,223

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,2504$2,4005$2,410
$2,410
RENT COMPS ANALYSIS
  • 7018 W Morning Dove Drive Glendale, AZ 5
    • 4 beds 2 baths ∙ 2,443 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,443 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.99
    •  
  • 6803 W Rose Garden Lane Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,327 Sqft ∙ Built 1997
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 7460 W Quail Avenue Glendale, AZ 2
    • 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 1997
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 22018 N 73rd Avenue Glendale, AZ 3
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1994
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 6981 W Melinda Lane Glendale, AZ 4
    • 3 beds 2 baths ∙ 2,443 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,443 Sqft ∙ Built 1998
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jennifer Wehner
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179648
Last Updated: 01/15/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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