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15456 W MORNING GLORY Street, Goodyear, AZ 85338
Description
Supplements: 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 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
More Information MLS# 6967518
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