$700,000
15456 W MORNING GLORY Street
Goodyear, AZ 85338
MLS# 6967518
Status: Closed



Cozy shared bedroom with vintage details
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Cozy shared bedroom with vintage details

Property Description
8.25% Cap Rate on Stabilized Assisted Living Investment ACTUAK Proven 3-Year Operator Just Renewed for 5 More Years $61,883 NOI Operating Income $67,200 Gross Annual Income with Escalations Through 2030 NN Lease Structure - Owner Pays Only Taxes, Insurance & $50 per month HOA Tenant Paid January through July 2026 Built-In Rent Increases Locked Through 2030 Low Expense Ratio - Strong Yield Profile Growing Goodyear Senior Housing Demand Important to reveiw supplimental information!

Details
Maps
Contract Info
Current Price: $700,000
Sold Price: $700,000
Status: Closed
List Date: 2026-01-13
Ownership: Fee Simple
Location, Tax & Legal
House Number: 15456
Compass: W
Street Name: MORNING GLORY
St Suffix: Street
City/Town Code: Goodyear
State/Province: AZ
Zip Code: 85338
Zip4: 6907
Country: US
County Code: Maricopa
Subdivision: CENTERRA
Assessor Number: 500-04-655
Tax Year: 2025
General Property Description
Lot Size Dimensions: n/a
Year Built: 2005
Total # of Units: 6
# of Buildings: 1
Zoning: residential
Elementary School District: Avondale Elementary District
High School District: Agua Fria Union High School District
Legal Info
Township: 1N
Range: 1W
Section: 8
Lot Number: 393
Showing Notification Methods
Showing Service: Aligned Showings
Sold Info
Loan Type: Other
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Remarks Misc
Cross Street: Estrella Parkway/Van Buren St
Geo Lat: 33.444606
Geo Lon: -112.39123
Status Change Info
Off Market Date: 2026-08-26
Under Contract Date: 2026-08-26
Close of Escrow Date: 2026-09-09
Sold Price: $700,000
Income Expenses
Gross Annual Sch Inc: 67200
Net Operating Income: 61883
Property Features
Project Type: 5 - 12 Units; Other (See Remarks)
Other Type: Other (See Remarks)
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building; Personal Property
Community Features: Play Area; Other
Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced; Curb(s) & Gutter(s); Cable TV Available; Sidewalk(s); Patio/Balcony; Security Light(s)
Interior Features: Fire/Smoke Alarm(s); Security Alarm(s); Mini Blinds; Breakfast Bar
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup
Heating: Individual; Heat Pump
Cooling: Ceiling Fan(s); Heat Pump; Individual
Water Source: City Franchise; Master Meter; Individual Meter
Sewer: Sewer - Public
Electric: APS; Master Meter; Individual Meter
Gas: SW Gas; Master Meter; Individual Meter
Parking Features: Garage; Garage Door Opener; Paved; Attached Garage
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: None; See Remarks
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV; Landscaping; Other (See Remarks)
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Cash; Conventional; No Carry; Other (See Remarks)
Environmental: None
Supplements
EXECUTIVE SUMMARY 7.50% Cap Rate | NN Leased Residential Investment | 5-Year Lease This 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 Overview Base Rent: $5,600 per month Annualized Rent: $67,200 Scheduled increases: Year 2: $5,700/month Year 3: $5,800/month Year 4: $5,900/month Year 5: $6,000/month The tenant has paid January, February, and March 2026 under the new lease term, confirming continued operational performance. Operating Expenses (Actual) Insurance: $2,793 Property Taxes (2025): $1,924 HOA: $600 Total Annual Expenses: $5,317 NOI Operating Income (Year 1): $61,883 Investment Highlights Single-tenant residential income property Proven three-year operating history at location Newly executed 5-year lease (January 2026) Contractual annual rent increases True 7.50% cap rate based on actual expenses Low expense structure Predictable cash flow profile Needs-based tenant use Valuation & Underwriting Consideration This 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

IDX
Listing Office: Gerchick Real Estate

Last Updated: September - 09 - 2026

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