15456 W MORNING GLORY Street, Goodyear, AZ 85338

$825,000
Property Type: Multiple Dwellings Status: Active
Current Price: $825,000 Last Modified: 2/22/2026

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 tenant is responsible for all operating costs associated with the property, including utilities, maintenance, landscaping, and repairs. Own

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

Contract Info

Ownership: Fee Simple Current Price: $825,000 List Price: $825,000 Status: Active List Date: 2026-01-13

Location, Tax & Legal

Assessor's Map #: 4 Legal Description (Abbrev): LOT 393 CENTERRA MCR Assessor's Parcel #: 655 Add'l Parcels: No Tax Municipality: Goodyear Census Tract: 61022 Taxes: 1924 Legal: LOT 393 CENTERRA MCR Marketing Name: NN Leased MF House Number: 15456 Compass: W Street Name: MORNING GLORY St Suffix: Street City/Town Code: Goodyear State/Province: AZ Zip Code: 85338 Zip4: 6907 County Code: Maricopa Subdivision: CENTERRA Assessor Number: 500-04-655 Tax Year: 2025

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 0 Lot Size Dimensions: n/a Total # of Units: 6 Elementary School District: Avondale Elementary District High School District: Agua Fria Union High School District Year Built: 2005 Zoning: residential

Legal Info

Range: 1W Section: 8 Township: 1N Lot Number: 393

Project Type

5 - 12 Units: 1 Other (See Remarks): 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Tile: 1

Floors

Vinyl: 1 Ceramic Tile: 1

Sale Includes

Land & Building: 1 Personal Property: 1

Income & Expenses

Annual Elec Exp: 0 Annual Gas Exp: 0 Annual Ins Exp: 2793 Annual Land Lse Exp: 0 Annual Landscape Exp: 0 Annual Legal & Acctg: 0 Annual Maint Exp: 0 Annual Mgmt Exp: 0 Annual Trash Exp: 0 Annual Wtr/Swr Exp: 0 Owner Association: Yes Annual Ownr Asoc Fee: 600 Annual Other Expense: 0 Operating Exp: 5317 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 67200 Total Monthly Rental Income: 5600

Pmt & Rate Info

Cap Rate: 7.5 Equity: 825000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Community Features

Other: 1

Heating

Heat Pump: 1 Individual: 1

Cooling

Ceiling Fan(s): 1 Heat Pump: 1

Exterior Amenities

Landscape Water System: 1 Green Landscaping: 1 Desert Landscaping: 1 Fenced: 1 Curb(s) & Gutter(s): 1 Cable TV Available: 1 Sidewalk(s): 1 Patio/Balcony: 1 Security Light(s): 1

Interior Features

Fire/Smoke Alarm(s): 1 Mini Blinds: 1 Breakfast Bar: 1

Tenant Pays

Gas: 1 Water: 1 Sewer: 1 Electricity: 1 Trash Collection: 1 Cable TV: 1 Landscaping: 1 Other (See Remarks): 1

Appliances Included

Dishwasher: 1 Disposal: 1 Microwave: 1 Refrigerator: 1 Built-In Range: 1 W/D Hookup: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Road Responsibility

City Maintained Road: 1

Water Source

City Franchise: 1 Master Meter: 1

Sewer

Sewer - Public: 1

Parking Features

Garage: 1 Paved: 1 Garage Door Opener: 1 Attached Garage: 1

Electric

APS: 1 Master Meter: 1

Gas

SW Gas: 1 Master Meter: 1

Owner Pays

None: 1 See Remarks: 1

New Financing

Cash: 1 Conventional: 1 No Carry: 1 Other (See Remarks): 1

Reports/Disclosures

Seller Prop Disc Stm: 1 APOD/Backup Avaible: 1 Sch of Personal Prop: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Cross Street: Estrella Parkway/Van Buren St Geo Lat: 33.444606 Geo Lon: -112.39123

Income Expenses

Gross Annual Sch Inc: 67200 Net Operating Income: 61883

Property Features

Project Type: 5 - 12 Units; Other (See Remarks) Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Tile Floors: Vinyl; Ceramic Tile Sale Includes: Land & Building; Personal Property Community Features: 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); 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 Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS; Master Meter Gas: SW Gas; Master Meter Parking Features: Garage; Garage Door Opener; Paved; Attached Garage 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
Listing Office: Gerchick Real Estate
IDX
Last Updated: February - 22 - 2026
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