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Garrett Sparks
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(480) 521-3288
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15456 W Morning Glory Street, Goodyear, AZ 85338

$800,000
  • 15456 W Morning Glory Street, Goodyear, AZ 85338 Main Photo

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Active
BEDS0 BATHS MLS#6967518
STATUSActive PROPERTY TYPEMulti Unit - Multiple SUBDIVISIONCENTERRA SCHOOLAgua Fria Union High School District

Property Description

7.50% Cap Rate on Stabilized Assisted Living InvestmentProven 3-Year Operator Just Renewed for 5 More Years$61,883 NOI Operating Income$67,200 Gross Annual Income with Escalations Through 2030NN Lease Structure - Owner Pays Only Taxes, Insurance & $50 HOATenant Paid January, February & March 2026Built-In Rent Increases Locked Through 2030Low Expense Ratio - Strong Yield ProfileGrowing Goodyear Senior Housing Demand EXECUTIVE SUMMARY7.50% Cap Rate | NN Leased Residential Investment | 5-Year LeaseThis offering consists of a single-family residence leased to an established care operator under a long-term lease structure. The property is being offered as a real estate investment only. The operating business, license, and care operations are not included in the sale.The tenant has successfully operated at the property for approximately three years and executed a new five-year lease beginning January 12, 2026, providing renewed contractual income stability and built-in rent growth.The property is offered at $825,000, delivering a true 7.50% cap rate based on verified income and actual operating expenses.Income OverviewBase Rent: $5,600 per monthAnnualized Rent: $67,200Scheduled increases:Year 2: $5,700/monthYear 3: $5,800/monthYear 4: $5,900/monthYear 5: $6,000/monthThe tenant has paid January, February, and March 2026 under the new lease term, confirming continued operational performance.Operating Expenses (Actual)Insurance: $2,793Property Taxes (2025): $1,924HOA: $600Total Annual Expenses: $5,317NOI Operating Income (Year 1): $61,883Investment HighlightsSingle-tenant residential income propertyProven three-year operating history at locationNewly executed 5-year lease (January 2026)Contractual annual rent increasesTrue 7.50% cap rate based on actual expensesLow expense structurePredictable cash flow profileNeeds-based tenant useValuation & Underwriting ConsiderationThis asset should be evaluated based on its income performance and lease structure. As a single-family residence leased to an operator, traditional owner-occupied comparable home sales may not fully reflect the investment value of the property.This opportunity is well suited for investors seeking stable yield, limited management intensity, and long-term lease security supported by a needs-based tenant. Buyer to verify all Facts and Figures

15456 W Morning Glory Street | MLS# 6967518

This multi-family property located at 15456 W Morning Glory Street, Goodyear, AZ 85338 is currently listed for sale with an asking price of $800,000. W Morning Glory Street is located within the Agua Fria Union High School District school district. Search Goodyear real estate on gsparks.arizonabest.com today.

Property Features

Property Type: Multi Unit - Multiple
Cooling: Heat Pump, Ceiling Fan(s)
Heating: Heat Pump, Varies by Unit
Roof Type: Tile
Taxes: $1,924
Year Built: 2005

Feature Descriptions

Community Features: Other, Play Area
Days on Site: 95
Exterior: Sidewalk(s)
Exterior: Wood Frame, Painted, Stucco
Flooring: Ceramic Tile
Parking: Paved, Garage Door Opener, Attached Garage
Water: Master Meter, City Franchise

Local Schools

School District: Agua Fria Union High School District

Listed By / Shown By

Listed By

Agency Name: Gerchick Real Estate
Agency Phone: 602-688-9279

Shown By

Agent Name: Garrett Sparks
Agent Phone: (480) 521-3288
Agency Title: Arizona Best Real Estate

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Estimated Payment

$ 2,174.12 per month $1,780.45 Principal & Interest $160.33 Property Tax $233.33 Homeowner's Insurance

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/18/2026. The listing information on this page last changed on 04/18/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sat 04/18/2026 6:19:15 AM EST) or ARMLS (last updated Fri 04/17/2026 11:08:13 PM EST). Real estate listings held by brokerage firms other than Arizona Best Real Estate may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.


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