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7339 W Morrow Drive Glendale, AZ 85308

3 Beds 2 Baths 1,945 sqft Built 1986

$384,999

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $197.94
  • 6 Days on Market
  • MLS # : 6153640
  • Updated Date : 11/02/2020 at 00:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,945 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Very desirable Arrowhead Ranch with beautiful lakes, close to 101 freeway , Cosco , Arrowhead mall & more places of interest, shopping & dining. Single level 4 bedrm home converted to 3(huge second master with 2 mirrored closets , Jack & Jill bath to other bedrm & French door to covered patio); split master with His & Hers mirrored closets; vaulted ceilings in living & formal dining; fireplace; eat in kitchen with all new matching stainless steel appliances including refrigerator; inside laundry with washer/dryer; ceiling fans in each room; new carpet in bedrooms ; new paint, new water heater in 2 car garage with new epoxy floors & water softener. Enjoy fenced sparkling paddock pool & beautifully landscaped back yard .Owner will give floor allowance for tile replacement at COE.

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
Arrowhead Elementary School Primary Regular 584 32 8
Arrowhead Elementary School Middle Regular 584 32 8
Mountain Ridge High School High Regular 2,206 94 7

Arrowhead Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 32
8
GreatSchools Rating

Arrowhead Elementary School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 32
8
GreatSchools Rating

Mountain Ridge High School

  • Education Level: High
  • # of students: 2,206
  • # of teachers: 94
7
GreatSchools Rating
 

$346,499$423,499$384,999

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,420
Property Tax -$274
Property Insurance -$65
HOA -$5
Property Management Fees -$99
CASH FLOW
-$164

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.

$384,999

PROJECTED PRICE

$1,700

PROJECTED RENT

0.44%

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,749
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,867

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8954$1,9005$1,925
$1,925
RENT COMPS ANALYSIS
  • 7339 W Morrow Drive Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 7710 W Wahalla Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1991
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 7378 W Taro Lane Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1990
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 7139 W Mcrae Way Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1985
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 19905 N 77th Avenue Glendale, AZ 5
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1991
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tamara Abramova
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153640
Last Updated: 11/02/2020
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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