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7031 W Morrow Drive Glendale, AZ 85308

3 Beds 2 Baths 1,790 sqft Built 1986

$414,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $231.79
  • 2 Days on Market
  • MLS # : 6211660
  • Updated Date : 03/27/2021 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,790 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

Beautifully updated home in the highly sought-after community of Arrowhead Ranch. Open & spacious floorplan with wood-like plank flooring in all living spaces & tile in the bathrooms. Custom lighting & fixtures throughout. The kitchen opens to the dining and living room with stainless steel appliances, granite counters, tons of custom cabinetry w/ wine fridge & separate wine bar. The master suite is complete with fireplace & sitting area, The master bath is custom with separate tub & shower and double sinks. The backyard is perfect for relaxing or entertaining with a covered patio, pool & spa with water feature and plenty of mature trees to keep you cool in the summer months. Just minutes away from the Loop 101, Arrowhead Country Club Arrowhead Mall, restaurants, schools and parks

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
 

$373,410$456,390$414,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,441
Property Tax -$295
Property Insurance -$62
HOA -$5
Property Management Fees -$99
CASH FLOW
-$223

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.

$414,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,699

INVESTMENT

$115,699

Down Payment
$103,725
Rehab Estimate
$5,750
Closing Costs
$6,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,725
Loan Amount $311,175
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6804$1,7505$1,895
$1,895
RENT COMPS ANALYSIS
  • 7031 W Morrow Drive Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.94
    •  
  • 7203 W Kimberly Way Glendale, AZ 1
    • 4 beds 3 baths ∙ 1,626 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,626 Sqft ∙ Built 1986
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 7518 W Wescott Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1990
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 18801 N 67th Drive Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1987
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 7378 W Taro Lane Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1990
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
PROPERTY LISTING DETAILS
John Andrews
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6211660
Last Updated: 03/27/2021
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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