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7428 W Morrow Drive Glendale, AZ 85308

3 Beds 2 Baths 1,427 sqft Built 1985

$375,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $262.79
  • 3 Days on Market
  • MLS # : 6176263
  • Updated Date : 01/01/2021 at 23:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,427 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Golf Course Home - Absolutely stunning 3 bedroom, 2 bath home in sought after Arrowhead Ranch. Immaculate from every angle - fantastic curb appeal with mature palms and pleasing low maintenance landscape. Exceptional attention to detail inside and out. This open, flowing floor plan features a large kitchen with tons of cabinets, and eat-in dining area. Kitchen overlooks great room with fireplace, as well as the beautiful back yard and golf course. Large covered patio with pavers and built-in outdoor cook station accent this resort style back yard. Act today! This home will not last!

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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,384
Property Tax -$267
Property Insurance -$55
HOA -$4
Property Management Fees -$99
CASH FLOW
-$209

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.

$375,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.43%

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-$6.0k-$4.0k-$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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5004$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 7428 W Morrow Drive Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
  • 19412 N 78th Avenue Glendale, AZ 1
    • 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 1992
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 7825 W Mcrae Way Glendale, AZ 2
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1995
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 19324 N 75th Drive Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1990
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 7203 W Kimberly Way Glendale, AZ 4
    • 4 beds 3 baths ∙ 1,626 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,626 Sqft ∙ Built 1986
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mark Perkins
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176263
Last Updated: 01/01/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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