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Listed price in listed location currency (USD).
$825,000

002

MLS® 6967518

  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Residential Income
Size -
Garage No
HOA Fees 
Taxes $1,924
Days Active 0
Approx. Age 2005
MLS® Number 6967518

Property Address: 15456 W Morning Glory St, Goodyear, AZ, 85338-6907

Average square foot calculated using Size range provided by listing agent.

Description

Income-Producing Single-Family Investment | Long-Term Assisted Care Tenant This income-producing single-family residence offers investors a rare opportunity to acquire a stabilized asset leased to an established assisted care operator. A **new five-year lease** has just been executed, providing immediate income stability along with **annual rent increases** throughout the primary lease term. The lease begins at **$5, 600 per month** and and increases each year, reaching $6, 000 per month by the fifth year. The lease also includes two additional five-year renewal options, offering long-term income continuity and reduced turnover risk. The tenant is responsible for all operating costs associated with the property, including utilities, maintenance, landscaping, and repairs. Own True 7.5% Cap Rate | Long-Term Lease Stability This well-positioned single-family residence offers investors a rare opportunity to acquire a stabilized, income-producing property leased to an established assisted care operator under a NN (Double NN) lease structure. The tenant has recently executed a new 5-year lease, providing immediate income certainty and built-in rent growth. The current lease begins at $5, 600 per month, with annual scheduled increases as follows: Year 2: $5, 700/month Year 3: $5, 800/month Year 4: $5, 900/month Year 5: $6, 000/month In addition to the initial term, the lease includes two additional 5-year renewal options, offering long-term income continuity and reduced rollover risk. Under the NN lease structure, the tenant is responsible for property taxes, insurance, and HOA fees, while the landlord retains ownership of a professionally operated residential asset with predictable cash flow. This investment delivers a true 7.5% cap rate, supported by contractual rent increases and a mission-critical use tenant. Investment Highlights Single-family home leased to assisted care operator NN lease structure with landlord paying taxes, insurance, and HOA New 5-year lease in place with two 5-year options Scheduled annual rent increases throughout the lease term Strong, stabilized income stream True 7.5% cap rate Passive ownership profile with long-term upside This offering is ideal for investors seeking reliable cash flow, reduced management intensity, and long-term lease security backed by a needs-based tenant. Actual Projected Operating Income (NOI) by Year Sales Price: $825, 000 Cap Rate: 7.5% (True) Year 1 NOI (Base Year) Cap Rate Calculation: $825, 000 × 7.5% = $61, 875 NOI Annual Rent Schedule Year 1: $5, 600/mo = $67, 200/yr Year 2: $5, 700/mo = $68, 400/yr Year 3: $5, 800/mo = $69, 600/yr and increases each year, reaching $6, 000 per month by the fifth year. The lease also includes two additional five-year renewal options, offering long-term income continuity and reduced turnover risk. The tenant is responsible for all operating costs associated with the property, including utilities, maintenance, landscaping, and repairs. Ownership responsibilities are limited to property taxes, insurance, and HOA fees, creating a streamlined ownership structure with reduced management intensity. Offered at $825, 000, the property delivers a 7.5% capitalization rate, supported by contractual rent growth and a needs-based tenant use that remains resilient across market cycles. This offering is well-suited for investors seeking predictable cash flow, long-term tenancy, and minimal operational involvement in a residential asset. Buyer to verify all facts, figures, lease terms, and expense responsibilities during due diligence.Year 4: $5, 900/mo = $70, 800/yr Year 5: $6, 000/mo = $72, 000/yr Based on Year 1 NOI and contractual rent increases (with operating expenses assumed stable), projected NOI trends as follows: YEAR ANNUAL RENT PROJECTED NOI Year 1 $67, 200 $61, 875 Year 2 $68, 400 $63, 075 Year 3 $69, 600 $64, 275 Year 4 $70, 800 $65, 475 Year 5 $72, 000 $66, 675 NOI growth is driven by scheduled rent increases while maintaining a predictable ex
MLS® Number6967518
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age2005
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Similar Listings

Price History

-End Date
Not Sold YetSold Price

For Sale

Jan 13, 2026List Date
$825,000List Price
  • Commute

Commute

Starting Address
Destination Address
15456 W Morning Glory St, Goodyear, AZ

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