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7208 W Medlock Drive Glendale, AZ 85303

3 Beds 2 Baths 1,704 sqft Built 1978

$319,950

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $187.76
  • 2 Days on Market
  • MLS # : 6183907
  • Updated Date : 01/31/2021 at 04:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full
Listing Agent

Scottsdale Prestige Properties

Listing Agent's Description

WONDERFUL, COMPLETELY REMODELED HOME IN A QUIET, CONVENIENTLY LOCATED NEIGHBORHOOD CLOSE TO HWY 10 & 101! THE SOLAR SYSTEM LEASE HAS BEEN PAID OFF IN FULL AND REALIZES AN AVERAGE SAVINGS OF AT LEAST $200/MONTH+ IN REDUCED ELECTRICAL BILLS!!! NEW KITCHEN INCLUDING STAINLESS STEEL APPLIANCES, CABINETS, COUNTER TOPS, KITCHEN SINK & FAUCET, FLOORS, CARPET, INTERIOR & EXTERIOR PAINT, 6-PANEL DOORS & MOULDING, DECORA PLUGS & SWITCHES, REMOTE CONTROL CEILING FANS, VANITIES, LIGHTS AND GARAGE DOOR OPENER! WOULD PREFER TO SELL TO AN ALL-CASH BUYER WHO CAN CLOSE QUICKLY! LARGE FAMILY ROOM IN THE BACK OF THE HOUSE COULD EASILY BE CONVERTED INTO ANOTHER MASTER SUITE/BATHROOM! DUAL PANE, VINYL WINDOWS! EXTRA ATTIC INSULATION. NO HOA, PLENTY OF OFF-STREET PARKING BEHIND RV GATE! 2 FIREPLACES! SELL IT!

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
 

$287,955$351,945$319,950

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$1,111
Property Tax -$184
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$175

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.

$319,950

PROJECTED PRICE

$1,280

PROJECTED RENT

0.40%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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$90,537

INVESTMENT

$90,537

Down Payment
$79,988
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,988
Loan Amount $239,963
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$7,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,0953$1,1494$1,3955$1,550
$1,550
RENT COMPS ANALYSIS
  • 7208 W Medlock Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7728 W Reade Avenue Glendale, AZ 2
    • 3 beds 1 baths ∙ 1,401 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,401 Sqft ∙ Built 1972
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.78
    •  
  • 6802 W Highland Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,149
    • $0.82
    •  
  • 7371 W Colter Street Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 1990
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.81
    •  
  • 5229 N 73rd Drive Glendale, AZ 5
    • 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1991
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
PROPERTY LISTING DETAILS
Scott R Muhly
Scottsdale Prestige Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183907
Last Updated: 01/31/2021
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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