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8755 W Midway Avenue Glendale, AZ 85305

5 Beds 3 Baths 3,122 sqft Built 2004

$425,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $136.13
  • 4 Days on Market
  • MLS # : 6192669
  • Updated Date : 02/11/2021 at 20:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,122 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mashouses

Listing Agent's Description

Beautiful 5 bedroom home with a loft. Walk through the front door into a very large living room, then head back to see your beautiful kitchen! You will see granite counter tops, staggered cabinets and don't forget about the very spacious island. Go check out the 3 car tandem garage. Upstairs notice the loft and guest bathroom where you can entertain or use as extra space to relax. Make sure to make your appointment today. This one will go quickly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rovey Farm Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k358k

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

Neighborhood: Rovey Farm Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9521981

* 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
Raymond S. Kellis High School High Regular 1,928 75 4
Raymond S. Kellis High School High Unknown NA

Raymond S. Kellis High School

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

Raymond S. Kellis High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,476
Property Tax -$228
Property Insurance -$88
HOA -$67
Property Management Fees -$99
CASH FLOW
$152

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.

$425,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$37,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,342

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1103$2,2004$2,2955$2,650
$2,650
RENT COMPS ANALYSIS
  • 8755 W Midway Avenue Glendale, AZ 2
    • 5 beds 3 baths ∙ 3,122 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,122 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.68
    •  
  • 8851 W Augusta Avenue Glendale, AZ 1
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2005
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.69
    •  
  • 8796 W Augusta Avenue Glendale, AZ 3
    • 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2005
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
  • 8775 W Lane Avenue Glendale, AZ 4
    • 4 beds 3 baths ∙ 3,037 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,037 Sqft ∙ Built 2005
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.76
    •  
  • 8782 W Peppertree Lane Glendale, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Marcos Sandoval
Mashouses
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192669
Last Updated: 02/11/2021
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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