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7724 W Julie Drive Glendale, AZ 85308

4 Beds 3 Baths 2,004 sqft Built 1992

INVESTimate

$340,000

List Price

$1,840

$1,656 - $2,024

Rent Est.

$356,252  ( +4.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $169.66
  • 6 Days on Market
  • MLS # : 6120622
  • Updated Date : 08/21/2020 at 10:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,004 sqft
  • Baths : 3 full
Listing Agent

Property Dimensions Real Estate Group

Listing Agent's Description

Popular Arrowhead Ranch community 4 bed 3 bath home with amazing views of one of the lakes! Located very close to Loop 101, P83, Arrowhead Mall, golf, gyms, and great schools. Nice breakfast bar and bay window in kitchen that opens up to the family room. Separate living room dining room combo as well. One bedroom and full bath downstairs. Upstairs has 3 bedrooms and 2 bathrooms. Home has solar, buyer to take over loan payments or payoff remaining balance. Buyer to verify all facts and figures.

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,254
Property Tax -$242
Property Insurance -$66
HOA -$37
Property Management Fees -$99
CASH FLOW
$141

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.

$340,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.78%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$37,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8403$1,8954$1,9005$1,925
$1,925
RENT COMPS ANALYSIS
  • 7724 W Julie Drive Glendale, 2
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.92
    •  
  • 7710 W Wahalla Lane Glendale, 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, 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, 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, 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
Stephanie Chapman
Property Dimensions Real Estate Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120622
Last Updated: 08/21/2020
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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