15456 West MORNING GLORY Street Goodyear, AZ 85338

$800,000
$800,000
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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

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

  • Neighborhood
  • Type
  • County
    Maricopa
  • Area
    Goodyear
  • Tax Amount
    $1,924
  • Status
    Active
  • Listing #
    6967518
  • Built
    2005
  • Listed on site
    141 days

Listed by:
Gerchick Real Estate

mls source logo Listing provided courtesy of Arizona Regional Multiple Listing Service, Inc. (ARMLS)
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Community Features

  • No HOA
  • Not Age Restricted

Exterior features

  • No Pool

Property History

DateDays AgoEventNew Price
Apr 9, 20262 mos agoPrice decreased25,000 (3%)$800,000
Jan 13, 20265 mos agoNew on market$825,000
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