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8621 N 48th Lane Glendale, AZ 85302

4 Beds 3 Baths 2,495 sqft Built 1978

$380,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $152.30
  • 2 Days on Market
  • MLS # : 6173130
  • Updated Date : 12/19/2020 at 10:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,495 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pro-formance Realty Concepts

Listing Agent's Description

Beautifully Remodeled -Single Story Home: 4 bedrooms, 2.5 bathrooms, 2495 sq ft. Enjoy Cul de sac living on a 1/3 Acre with a large sparkling Diving Pool, 3 car garage, RV Gate, RV Parking and NO HOA!! This home is loaded with tons of upgrades including: wood plank tile floors throughout, Quarts countertops in the kitchen with pendent lighting above, wood burning fireplace, stainless steel appliances, custom closet organizers, extra large walk-in tiled master shower with rainfall shower head, barn doors, an atrium, playground, sports court, plantation shutters and so much more. New AC in 2016, New Roof in 2011, All Bathrooms and Bedrooms Updated, Kitchen Updated and Beautiful Landscaping. Schedule your private tour today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Birds of Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $104k308k

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

Neighborhood: Birds of Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9131567

* 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
Horizon School Primary Regular 863 41 6
Horizon School Middle Regular 863 41 6
Apollo High School High Regular 1,976 91 6

Horizon School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 41
6
GreatSchools Rating

Horizon School

  • Education Level: Middle
  • # of students: 863
  • # of teachers: 41
6
GreatSchools Rating

Apollo High School

  • Education Level: High
  • # of students: 1,976
  • # of teachers: 91
6
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,402
Property Tax -$225
Property Insurance -$76
Property Management Fees -$99
CASH FLOW
$8

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.

$380,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$29,299

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
  • $1,855

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,7954$1,800
$1,800
RENT COMPS ANALYSIS
  • 8621 N 48th Lane Glendale, AZ 1
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4639 W Ruth Avenue Glendale, AZ 2
    • 4 beds 2 baths ∙ 2,195 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,195 Sqft ∙ Built 1979
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 10424 N 38th Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 1971
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.74
    •  
  • 9214 N 48th Drive Glendale, AZ 4
    • 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1974
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
PROPERTY LISTING DETAILS
Melissa Ellison
Pro-formance Realty Concepts
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173130
Last Updated: 12/19/2020
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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