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7958 W Marlette Avenue Glendale, AZ 85303

3 Beds 3 Baths 1,726 sqft Built 2000

$299,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $173.75
  • 2 Days on Market
  • MLS # : 6172525
  • Updated Date : 12/18/2020 at 21:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,726 sqft
  • Baths : 2 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

This beautiful 3 bed/ 2.5 bath sits on an oversized, corner lot & could be your new home! The home boasts a bright & open floor plan with tile flooring downstairs & a mix of laminate & carpeted flooring upstairs. The chef's kitchen features a center island, stainless steel appliances, Kenmore stove & dishwasher, LG microwave, plenty of storage & more! Upgraded stair railings with built in windows across from the kitchen! $17K upgraded backyard with low maintenance turf, pavers, & arrow storage shed! Professional photos & 3D immersive virtual tour to come!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cobblefield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: Cobblefield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9111567

* 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
Discovery School Primary Regular 746 36 4
Discovery School Middle Regular 746 36 4
Independence High School High Regular 2,011 89 3

Discovery School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 36
4
GreatSchools Rating

Discovery School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 36
4
GreatSchools Rating

Independence High School

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

$269,910$329,890$299,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,107
Property Tax -$172
Property Insurance -$61
HOA -$12
Property Management Fees -$99
CASH FLOW
$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$14k$16k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$26,475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,372

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3253$1,4904$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 7958 W Marlette Avenue Glendale, AZ 3
    • 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.86
    •  
  • 6532 N 74th Drive Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1987
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $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
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.77
    •  
  • 7441 W Fleetwood Lane Glendale, AZ 4
    • 4 beds 3 baths ∙ 1,878 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,878 Sqft ∙ Built 2000
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.81
    •  
  • 7114 W Ocotillo Road Glendale, AZ 5
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2005
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
PROPERTY LISTING DETAILS
David Arustamian
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172525
Last Updated: 12/18/2020
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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