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7744 W Julie Drive Glendale, AZ 85308

3 Beds 2 Baths 1,437 sqft Built 1994

$370,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $257.48
  • 2 Days on Market
  • MLS # : 6209962
  • Updated Date : 03/20/2021 at 05:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,437 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Charming Arrowhead neighborhood will delight you as you drive to this light, bright and inviting 3 bedroom home that backs to a peaceful neighborhood lake. The covered patio views and shaded location provide the perfect setting for family gatherings. Lots of new paint, and great possibilities in this floorplan. Mostly tile and wood laminate flooring, nice lighting fixtures and new hardware throughout. The new underlayment on the roof was just installed that should provide the new buyers some peace of mind. New insulated garage doors were just installed as well.

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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,285
Property Tax -$263
Property Insurance -$55
HOA -$113
Property Management Fees -$99
CASH FLOW
-$396

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.

$370,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.38%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,433

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4503$1,4954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 7744 W Julie Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.99
    •  
  • 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
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 19412 N 76th Avenue Glendale, AZ 3
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1985
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 19324 N 75th Drive Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1990
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 7203 W Kimberly Way Glendale, AZ 5
    • 4 beds 3 baths ∙ 1,626 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,626 Sqft ∙ Built 1986
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Elisa Henrichs
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209962
Last Updated: 03/20/2021
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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