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15456 W Morning Glory St - NN-Leased Single-Family Investment | Assisted 1,818 SF Health Care Building Offered at $750,000 at a 8.25% Cap Rate in Goodyear, AZ 85338
Investment Highlights
- Single-family home leased to established assisted care operator/Attractive passive investment with reduced management intensity
- New 5-year lease recently executed
- Initial rent of $5,600/month increasing to $6,000/month by Year 5
- NN lease structure with predictable operating profile
- Two additional 5-year tenant renewal options
- True 7.5% cap rate at $825,000 purchase price/Needs-based tenant providing long-term demand stability
Executive Summary
7.50% Cap Rate | NN Leased Residential Investment | 5-Year Lease
This 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 Overview
Base Rent: $5,600 per month
Annualized Rent: $67,200
Scheduled increases:
Year 2: $5,700/month
Year 3: $5,800/month
Year 4: $5,900/month
Year 5: $6,000/month
The tenant has paid January, February, and March 2026 under the new lease term, confirming continued operational performance.
Operating Expenses (Actual)
Insurance: $2,793
Property Taxes (2025): $1,924
HOA: $600
Total Annual Expenses: $5,317
Net Operating Income (Year 1): $61,883
Investment Highlights
Single-tenant residential income property
Proven three-year operating history at location
Newly executed 5-year lease (January 2026)
Contractual annual rent increases
True 7.50% cap rate based on actual expenses
Low expense structure
Predictable cash flow profile
Needs-based tenant use
Valuation & Underwriting Consideration
This 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.
This 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 Overview
Base Rent: $5,600 per month
Annualized Rent: $67,200
Scheduled increases:
Year 2: $5,700/month
Year 3: $5,800/month
Year 4: $5,900/month
Year 5: $6,000/month
The tenant has paid January, February, and March 2026 under the new lease term, confirming continued operational performance.
Operating Expenses (Actual)
Insurance: $2,793
Property Taxes (2025): $1,924
HOA: $600
Total Annual Expenses: $5,317
Net Operating Income (Year 1): $61,883
Investment Highlights
Single-tenant residential income property
Proven three-year operating history at location
Newly executed 5-year lease (January 2026)
Contractual annual rent increases
True 7.50% cap rate based on actual expenses
Low expense structure
Predictable cash flow profile
Needs-based tenant use
Valuation & Underwriting Consideration
This 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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $750,000 | Lot Size | 0.13 AC |
| Price Per Bed | $125,000 | Building Size | 1,818 SF |
| Sale Type | Investment | No. Beds | 6 |
| Cap Rate | 8.25% | No. Stories | 1 |
| Property Type | Health Care | Year Built/Renovated | 2005/2020 |
| Zoning | PAD | ||
| Price | $750,000 |
| Price Per Bed | $125,000 |
| Sale Type | Investment |
| Cap Rate | 8.25% |
| Property Type | Health Care |
| Lot Size | 0.13 AC |
| Building Size | 1,818 SF |
| No. Beds | 6 |
| No. Stories | 1 |
| Year Built/Renovated | 2005/2020 |
| Zoning | PAD |
Amenities
- Smoke Detector
Room Mix Information
| Description | No. Beds |
|---|---|
| NN Leased Property | 6 |
Somewhat walkable
30/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 500-04-655 | Total Assessment | $14,712 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
500-04-655
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$14,712
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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15456 W Morning Glory St - NN-Leased Single-Family Investment | Assisted
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