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Property Description
8.25% Cap Rate on Stabilized Assisted Living Investment ACTUAK Proven 3-Year Operator Just Renewed for 5 More Years $61,883 NOI Operating Income $67,200 Gross Annual Income with Escalations Through 2030 NN Lease Structure - Owner Pays Only Taxes, Insurance & $50 per month HOA Tenant Paid January through July 2026 Built-In Rent Increases Locked Through 2030 Low Expense Ratio - Strong Yield Profile Growing Goodyear Senior Housing Demand Important to reveiw supplimental information! 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 NOI 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. Buyer to verify all Facts and Figures
Full Property Details
Full Property Details for 15456 W Morning Glory St
General
- Sold For: $700,000
- Taxes: $1,924 (2025)
- Status: Closed
- Type: Multi-Family
- Source: ARMLS_Arizona_MLS_Phoenix_Area
- MLS ID: 6967518
- Added to Site: 269 day(s) ago
Interior
- Appliances: Built-In Range, Disposal, Dishwasher, Refrigerator, Microwave, Washer and Dryer Hookups
- Flooring: Ceramic Tile, Vinyl
Additional Information
- Security/Safety: Security Light(s), Security Alarm(s)
Exterior
- Exterior Features: Sidewalk(s)
Parking
- Parking Features: Attached Garage, Paved, Garage Door Opener
Location
- County: Maricopa
- Township: 1N
- Subdivision: CENTERRA
- Cross Streets: Estrella Parkway/Van Buren St
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Ceiling Fan(s), Heat Pump, Varies by Unit
- Heating Type: Varies by Unit, Heat Pump
Utilities
- Water: Individual Meter, Master Meter, City Franchise
Structural Information
- # Buildings: 1
- Exterior Const.: Wood Frame, Painted, Stucco
- Roof: Tile
- Year Built: 2005
Lot Features
- Frontage: Asphalt
- Zoning: residential
Financial Considerations
- Tax Amount: $1,924
- Tax Year: 2025
- Terms: Cash, Other (See Remarks), No Carry, Conventional
- Owner Pays: See Remarks, None
Disclosures and Reports
- Legal Description: LOT 393 CENTERRA MCR
- Property ID: 500-04-655
- Range: 1W
- Section: 8
- Lot Number: 393
Listed and Sold by Gerchick Real Estate
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Schools
Schools serving 15456 W Morning Glory St
School Districts:Avondale Elementary District, Agua Fria Union High School District
| Name | Grades | Distance |
|---|---|---|
Centerra Mirage 15151 West Centerra Drive, Goodyear, AZ 85338 | K-8 | 0.3 mi |
Desert Edge High School 15778 West Yuma Road, Goodyear, AZ 85338 | 9-12 | 0.9 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 15456 W Morning Glory St
Date
Details
Price
Change
Source
9/09/2026
Sold
$700,000
-6.67%
MLS
7/16/2026
Price Reduced
$750,000
-6.25%
MLS
4/09/2026
Price Reduced
$800,000
-3.03%
MLS
1/13/2026
Listed
$825,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
15456 W Morning Glory Street, Goodyear, AZ 85338 (MLS# 6967518) is a Multi-Family property that was sold at $700,000 on September 09, 2026. Want to learn more about 15456 W Morning Glory Street? Do you have questions about finding other Multi-Family real estate for sale in Goodyear? You can browse all Goodyear real estate or contact a Coldwell Banker agent to request more information.

