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8311 W Berridge Lane Glendale, AZ 85305

3 Beds 2 Baths 2,201 sqft Built 2000

$385,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $174.92
  • 2 Days on Market
  • MLS # : 6206892
  • Updated Date : 03/13/2021 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,201 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Former Model Located near Westgate and the Cardinal Stadium . This Beautiful 3 Bed 2 Bath 3 Car Garage Single Level Split Floor Plan Home has a Living Room, Large Family Room, Formal Dining Room. Nice sized Master Bedroom with partial Bay Window, which has a great view of the Pebble Tech Pool in the Backyard. Master Bath has Garden Tub, Separate Step-in Shower, Private toilet room, Walk-in Closet and Single Sink Vanity. The home sets on a large lot which over 1/3 of an acre with grass in the backyard and Covered Patio. RV Gate with RV Pad. The home is freshly painted and move-in ready and waiting for your offer.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Sunset

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k314k

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

Neighborhood: Desert Sunset

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8621686

* 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
Copper Canyon High School High Regular 2,251 82 1

Copper Canyon High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 82
1
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,337
Property Tax -$308
Property Insurance -$70
HOA -$62
Property Management Fees -$99
CASH FLOW
-$206

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.

$385,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 5.0%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6704$1,6955$1,799
$1,799
RENT COMPS ANALYSIS
  • 8311 W Berridge Lane Glendale, AZ 3
    • 3 beds 2 baths ∙ 2,201 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,201 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.76
    •  
  • 6512 N 85th Avenue Glendale, AZ 1
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 1987
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 6120 N 86th Drive Glendale, AZ 2
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2000
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 7804 W Marlette Avenue Glendale, AZ 4
    • 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
    •  
  • 8841 W Maryland Avenue Glendale, AZ 5
    • 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 1992
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.86
    •  
PROPERTY LISTING DETAILS
Francisco J Mendoza
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206892
Last Updated: 03/13/2021
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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