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8356 W Berridge Lane Glendale, AZ 85305

3 Beds 2 Baths 2,906 sqft Built 2002

$440,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $151.41
  • 3 Days on Market
  • MLS # : 6199866
  • Updated Date : 02/26/2021 at 21:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,906 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Amazing opportunity to own this gorgeous one story home available in highly desirable Desert Mirage Estates. Room to spread out with over 2900 sq ft of living space, 3 bedrooms, 2 bathrooms and a fluid open concept floorplan. Beautiful tile mosaics and inlays, high ceilings and custom paint tones. You will love entertaining in the bonus room with built in bar. Kitchen boasts stainless steel appliances, pendant lighting over the large island and a rock trim wall. Lovely master retreat includes walk in closet. Master bath has dual sinks and freshly refinished shower.. Get out back and enjoy the Arizona weather under the covered patio or playing with the family in the lush green grass. Do not miss out. See it today!

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
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,528
Property Tax -$352
Property Insurance -$84
HOA -$63
Property Management Fees -$99
CASH FLOW
-$156

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.

$440,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.45%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,434

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,2994$2,6505$2,795
$2,795
RENT COMPS ANALYSIS
  • 8356 W Berridge Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 2,906 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,906 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7572 W Keim Drive Glendale, AZ 2
    • 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
    •  
  • 8001 W San Juan Avenue Glendale, AZ 3
    • 3 beds 3 baths ∙ 2,725 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,725 Sqft ∙ Built 2004
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.84
    •  
  • 8782 W Peppertree Lane Glendale, AZ 4
    • 4 beds 4 baths ∙ 3,126 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,126 Sqft ∙ Built 2012
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.85
    •  
  • 8004 W San Juan Avenue Glendale, AZ 5
    • 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 2004
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.88
    •  
PROPERTY LISTING DETAILS
Yanet Alvarado
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199866
Last Updated: 02/26/2021
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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