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7353 W Rancho Drive Glendale, AZ 85303

3 Beds 3 Baths 1,909 sqft Built 2002

$285,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $149.29
  • 2 Days on Market
  • MLS # : 6157631
  • Updated Date : 11/07/2020 at 10:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,909 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Gorgeous, just updated home with 3 bedrooms, 2.5 bathrooms & loft, on corner lot awaits you! This N/S/ exposure, 2-story home is beautifully updated with luxury vinyl flooring throughout all the rooms, NEW appliances, fixtures, exterior & interior paint & front yard landscaping. Master bathroom suite includes both shower & bath, double sinks & walk-in closet. Large loft can be used as den/office/play area or converted to bedroom. Backyard is a blank canvas giving you the opportunity to make your own paradise.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eagle Pass

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Eagle Pass

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8531567

* 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 North School Primary Regular 831 36 3
Bicentennial North School Middle Regular 831 36 3
Independence High School High Regular 2,011 89 3

Bicentennial North School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 36
3
GreatSchools Rating

Bicentennial North School

  • Education Level: Middle
  • # of students: 831
  • # of teachers: 36
3
GreatSchools Rating

Independence High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,052
Property Tax -$164
Property Insurance -$64
HOA -$14
Property Management Fees -$99
CASH FLOW
-$43

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.

$285,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$16,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,470

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3253$1,3504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 7353 W Rancho Drive Glendale, AZ 3
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.71
    •  
  • 5458 N 77th Drive Glendale, AZ 1
    • 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1999
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.78
    •  
  • 7881 W Market Street Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1993
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.77
    •  
  • 8008 W Rancho Drive Glendale, AZ 4
    • 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 2000
    property image
    LEASED 08/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 6765 N 75th Drive Glendale, AZ 5
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 1999
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
PROPERTY LISTING DETAILS
Lora Mwaniki-lyman
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157631
Last Updated: 11/07/2020
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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