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7620 W Topeka Drive Glendale, AZ 85308

3 Beds 2 Baths 1,670 sqft Built 1990

$385,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $230.54
  • 3 Days on Market
  • MLS # : 6196381
  • Updated Date : 02/20/2021 at 22:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Offers will be reviewed Monday 02/22/2021 at 6:00pm. Beautifully renovated and well maintained home located on a rare and hard to find premium lake lot in Arrowhead Ranch. Newer paint and flooring throughout. Updated kitchen and bathrooms. Re-surfaced pebble-tec pool and newer roof replaced only a few years ago. Within minutes from Arrowhead mall, restaurants, shopping, entertainment and near several championship golf courses. Easy access to the 101 freeway. This home is a must see. Location! Location! Location!

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
Mountain Ridge High School High Regular 2,206 94 7
Mountain Ridge High School High Unknown NA

Mountain Ridge High School

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

Mountain Ridge High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,337
Property Tax -$274
Property Insurance -$60
HOA -$12
Property Management Fees -$99
CASH FLOW
-$192

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.

$385,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.41%

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$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.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$8,258

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
  • $1,612

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,5504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 7620 W Topeka Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 19324 N 75th Drive Glendale, AZ 2
    • 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
    •  
  • 7704 W Oraibi Drive Glendale, AZ 3
    • 4 beds 3 baths ∙ 1,638 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,638 Sqft ∙ Built 1992
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 19011 N 79th Drive Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1995
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 7518 W Wescott Drive Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1990
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
John Fishler
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196381
Last Updated: 02/20/2021
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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