15456 W MORNING GLORY Street Goodyear, AZ $ 825,000
15456 W MORNING GLORY Street
$ 825,000
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15456 W MORNING GLORY Street

Goodyear, AZ, 85338
$ 825,000
Baths0.0

Monthly Estimate*

$ 5,080

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Studio

Multi-Family Home for sale in Goodyear, AZ

for $825,000. This home was built in 2005.

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 expense profile. Buyer to verify all Due Diligence, Facts and Figures

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Multi-Family Active

Price

$ 825,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 1,924

Style

Multiple Dwellings

Year Built

2005

Town/City

Goodyear

County/Region

Maricopa

MLS | Web ID

6967518

Features
General
Sewer Public Sewer
Heating Individual Heat Pump
Cooling Ceiling Fan(s) Heat Pump
Roof Tile
Zoning residential
Construction Materials Wood Frame Painted Stucco
Year Built 2005
Electric APS Master Meter
Township 1N
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 67200.0
Community Features Other
County Maricopa
Net Operating Income 61883.0
Operating Expense 5317.0
Insurance Expense 2793.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
MaintenanceExpense 0.0
Subdivision Name CENTERRA
Garage Y/N Y
Status Active
City Goodyear
Disclosures Seller Prop Disc Stm APOD/Backup Avaible Sch of Personal Prop
High School District Agua Fria Union High School District
Open Parking Spaces 0.0
Number Of Units Total 6
Carport Y/N N
Tax Annual Amount 1924.0
Electric Expense 0.0
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Elementary School District Avondale Elementary District
Tax Lot 393
Cap Rate 7.5
New Financing: Conventional True
Senior Community N
New Financing: Cash True
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Interior
Flooring Ceramic Tile Vinyl
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Paved Garage Door Opener
Water Source Master Meter City Franchise
Total Parking 2.0
Number of Buildings 1
Spa N
Lot Dimensions n/a
Covered Spaces 2.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 15456
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* Excluded Features
List By
Gerchick Real Estate

Broker

Linda@justsoldit.com

Email

Affordability Calculator

$5,240
Per Month
97%
3%
0%
Monthly Principal & Interest
$5,080
Monthly Property Taxes
$160
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4328036 Elementary School
4327198 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/13/2026$825,000 Listed Price

Map


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15456 W MORNING GLORY Street, Goodyear, AZ, 85338 is a Multi-Family Home for sale at $825,000. 15456 W MORNING GLORY Street is a studio with 0.0 baths and was built in 2005. The property's zip code is 85338 which is in Goodyear, AZ