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8701 W Carole Lane Glendale, AZ 85305

5 Beds 4 Baths 4,252 sqft Built 2004

INVESTimate

$480,000

List Price

$2,050

$1,845 - $2,255

Rent Est.

$513,504  ( +6.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $112.89
  • 6 Days on Market
  • MLS # : 6120851
  • Updated Date : 08/23/2020 at 10:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,252 sqft
  • Baths : 4 full
Listing Agent

Exp Realty

Listing Agent's Description

***UNIQUE BASEMENT HOME. TRI-LEVEL WITH VAULTED CEILINGS. 5 beds + Den, 4 baths! With a Pool! In RoveyFarm Estates! Open and airy spacious floorplan boasts big rooms and plenty of personality. Gorgeous crowd-pleasing entertainers kitchen boasts gleaming granite island, tons of cabinetry, SS appliances, & double ovens. Lovely formal dining room. Bountiful master retreat upstairs with dual sink vanity, separate shower & garden tub with grand walk-in closet. 3 large bdrms too. Downstairs features den/office & full bedroom with full bath & Spacious Family room. Theater Room in Basement with full bath! Escape to backyard retreat with amazing Pool with baja step, massive covered patio, unobstructed balony views on premium lot with no neighbor behind. 3 car garage. Don't miss the 3D floorplan

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Yucca

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Yucca

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8491567

* 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
Cotton Boll Elementary School Primary Regular 962 45 4
Cotton Boll Elementary School Middle Regular 962 45 4
Raymond S. Kellis High School High Regular 1,928 75 4

Cotton Boll Elementary School

  • Education Level: Primary
  • # of students: 962
  • # of teachers: 45
4
GreatSchools Rating

Cotton Boll Elementary School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 45
4
GreatSchools Rating

Raymond S. Kellis High School

  • Education Level: High
  • # of students: 1,928
  • # of teachers: 75
4
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,771
Property Tax -$272
Property Insurance -$110
HOA -$67
Property Management Fees -$99
CASH FLOW
-$269

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.

$480,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.98%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$12,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.48

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,200
$2,200
RENT COMPS ANALYSIS
  • 8701 W Carole Lane Glendale, 1
    • 5 beds 4 baths ∙ 4,252 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,252 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.48
    •  
  • 7402 N 84th Avenue Glendale, 2
    • 6 beds 4 baths ∙ 4,300 Sqft ∙ Built 2005 6 beds 4 baths ∙ 4,300 Sqft ∙ Built 2005
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.51
    •  
PROPERTY LISTING DETAILS
Andrea M Crouch
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120851
Last Updated: 08/23/2020
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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