Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8035 W Luke Avenue Glendale, AZ 85303

3 Beds 2 Baths 2,494 sqft Built 2005

$460,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $184.44
  • 7 Days on Market
  • MLS # : 6188644
  • Updated Date : 02/08/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,494 sqft
  • Baths : 2 full
Listing Agent

Hague Partners

Listing Agent's Description

GATED COMMUNITY, RV GATE W/SLAB FOR PARKING, OVERSIZED 3 CAR GARAGE, MOVE IN READY! Home is located in highly desirable neighborhood of Missouri Estates, 17,550 sq. ft lot with NO NEIGHBORS BEHIND, Large formal living/dining room, office/flex room, Great room opens to kitchen, Corian counter tops, black appliances, kitchen island with sink, eat-in kitchen, large master suite with extend counter tops, double sinks, garden tub, separate shower, oversized master walk-in closet. Set out through the double french doors on the covered patio, beautiful pebble tech pool with waterfall feature, massive backyard for entertaining and extra parking behind the RV gate. Near West Gate shopping center and Cardinal Stadium!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Missouri Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $83k391k

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

Neighborhood: Missouri Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8621900

* 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
Independence High School High Regular 2,011 89 3

Independence High School

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

$414,000$506,000$460,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,598
Property Tax -$264
Property Insurance -$76
HOA -$132
Property Management Fees -$99
CASH FLOW
-$419

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.

$460,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,9004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 8035 W Luke Avenue Glendale, AZ 2
    • 3 beds 2 baths ∙ 2,494 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,494 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
  • 7804 W Marlette Avenue Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 5754 N 73rd Drive Glendale, AZ 3
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2000
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 7574 W Montebello Avenue Glendale, AZ 4
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 1990
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 7572 W Keim Drive Glendale, AZ 5
    • 4 beds 2 baths ∙ 2,694 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,694 Sqft ∙ Built 2012
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
June Palmer
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6188644
Last Updated: 02/08/2021
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.

BESbswy