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7256 W Midway Avenue Glendale, AZ 85303

4 Beds 3 Baths 1,916 sqft Built 2014

$350,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $182.67
  • 5 Days on Market
  • MLS # : 6156171
  • Updated Date : 11/04/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,916 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Location!!!! Quaint gated area, beautifully maintained with a community pool, grassy common areas and a rec room. This beautiful home is a must see! Private pool and hot tub! Gorgeous kitchen with stainless steel appliances gas stove, refrigerator, kitchen island, large eating area, breakfast bar, island and nice walk-in pantry. Tile and wood laminate throughout the entire home. One bedroom downstairs and upstairs two bedrooms with Jack & Jill bath set up. Also huge master with nice spacious bath as well with double sinks. Master closet has organized shelving. Loft area upstairs too! Backyard boasts an extended travertine tile patio, with a gorgeous pebble tec pool, spa and a artificial grass turf area. Garage is extended length and has epoxy floors.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westglen Villas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Westglen Villas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Desert Spirit School Primary Regular 916 45 2
Desert Spirit School Middle Regular 916 45 2
Independence High School High Regular 2,011 89 3

Desert Spirit School

  • Education Level: Primary
  • # of students: 916
  • # of teachers: 45
2
GreatSchools Rating

Desert Spirit School

  • Education Level: Middle
  • # of students: 916
  • # of teachers: 45
2
GreatSchools Rating

Independence High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,291
Property Tax -$201
Property Insurance -$65
HOA -$104
Property Management Fees -$99
CASH FLOW
-$310

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.

$350,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5504$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 7256 W Midway Avenue Glendale, AZ 1
    • 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 7269 W Aurelius Avenue Glendale, AZ 2
    • 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2011
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 7326 W Midway Avenue Glendale, AZ 3
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2008
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 7117 N 73rd Drive Glendale, AZ 4
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2007
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 7310 W Aurelius Avenue Glendale, AZ 5
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2007
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
PROPERTY LISTING DETAILS
Dana Vandeman
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156171
Last Updated: 11/04/2020
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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