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8224 N 57th Drive Glendale, AZ 85302

2 Beds 2 Baths 1,624 sqft Built 1960

$290,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $178.57
  • 3 Days on Market
  • MLS # : 6157112
  • Updated Date : 11/06/2020 at 11:53
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,624 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Don't miss out on this fantastic opportunity to own 2bed/2bath mid century ranch style home nestled into the beautiful Thunderbird Estates Historic District. Charming curb appeal leads you into the light and bright interior featuring tile/laminate flooring, brick fireplace in living and a fluid open floorplan. Lovely master bedroom with remodeled large tiled shower. Step out to the covered back patio and enjoy the expansive backyard completed with sparkling pool and brick pavers. No HOA. New roof 2017, New AC 2019, New h20 heater 2016, main sewer line replaced 2015, interior and exterior paint plus many more upgrades. Schedule your private showing today and make it yours!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Historic Thunderbird Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k291k

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

Neighborhood: Historic Thunderbird Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Glendale American School Primary Regular 791 39 3
Glendale American School Middle Regular 791 39 3
Glendale High School High Regular 1,719 75 4

Glendale American School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 39
3
GreatSchools Rating

Glendale American School

  • Education Level: Middle
  • # of students: 791
  • # of teachers: 39
3
GreatSchools Rating

Glendale High School

  • Education Level: High
  • # of students: 1,719
  • # of teachers: 75
4
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$1,070
Property Tax -$167
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$134

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.

$290,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,256

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,1003$1,2604$1,399
$1,399
RENT COMPS ANALYSIS
  • 8224 N 57th Drive Glendale, AZ 3
    • 2 beds 2 baths ∙ 1,624 Sqft ∙ Built 1960 2 beds 2 baths ∙ 1,624 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.78
    •  
  • 9402 N 66th Drive Glendale, AZ 1
    • 2 beds 2 baths ∙ 1,345 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,345 Sqft ∙ Built 1973
    property image
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.74
    •  
  • 6602 W Mission Lane Glendale, AZ 2
    • 2 beds 2 baths ∙ 1,440 Sqft ∙ Built 1973 2 beds 2 baths ∙ 1,440 Sqft ∙ Built 1973
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.76
    •  
  • 5468 W Laurie Lane Glendale, AZ 4
    • 2 beds 3 baths ∙ 1,696 Sqft ∙ Built 1980 2 beds 3 baths ∙ 1,696 Sqft ∙ Built 1980
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kelly Schaub
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157112
Last Updated: 11/06/2020
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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