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10055 E Mountainview Lake Drive #1057 Scottsdale, AZ 85258

2 Beds 3 Baths 1,256 sqft Built 1984

$299,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $238.06
  • 3 Days on Market
  • MLS # : 6193218
  • Updated Date : 02/13/2021 at 22:35
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,256 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

This beautiful townhome in the gated community of the Venetian at Scottsdale Ranch is everything you have been waiting for. This highly desired floorplan features two Master Suites upstairs with private baths and walk-in closets and a powder room on the first floor. Enjoy the spacious living areas designed for entertaining and the convenience of having an attached one car garage with direct entry into your kitchen. The living room features a cozy fireplace which opens up to your private covered patio to enjoy your morning cup of coffee. This Resort-Style community features a gated entry with heated pool/spa. The Venetian is right around the corner from Scottsdale Ranch park, Lake Serena, Dining, Shopping, miles of bike paths, and more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Venetian

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $112k465k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Venetian

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10102993

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Laguna Elementary School Primary Regular 546 29 9
Mountainside Middle School Middle Regular 766 36 8
Desert Mountain High School High Regular 2,247 94 8

Laguna Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 29
9
GreatSchools Rating

Mountainside Middle School

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 36
8
GreatSchools Rating

Desert Mountain High School

  • Education Level: High
  • # of students: 2,247
  • # of teachers: 94
8
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,039
Property Tax -$140
Property Insurance -$52
HOA -$237
Property Management Fees -$99
CASH FLOW
$94

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$299,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$22,462

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,660

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,6604$1,7005$1,725
$1,725
RENT COMPS ANALYSIS
  • 10055 E Mountainview Lake Drive #1057 Scottsdale, AZ 3
    • 2 beds 3 baths ∙ 1,256 Sqft ∙ Built 1984 2 beds 3 baths ∙ 1,256 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.32
    •  
  • 10080 E Mountainview Lake Drive #115 Scottsdale, AZ 1
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1992
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.26
    •  
  • 10115 E Mountain View Road #1004 Scottsdale, AZ 2
    • 2 beds 3 baths ∙ 1,254 Sqft ∙ Built 1984 2 beds 3 baths ∙ 1,254 Sqft ∙ Built 1984
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.16
    •  
  • 10080 E Mountain View Lake Drive #127 Scottsdale, AZ 4
    • 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,152 Sqft ∙ Built 1992
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.48
    •  
  • 10115 E Mountain View Road #1097 Scottsdale, AZ 5
    • 2 beds 3 baths ∙ 1,254 Sqft ∙ Built 1984 2 beds 3 baths ∙ 1,254 Sqft ∙ Built 1984
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.38
    •  
PROPERTY LISTING DETAILS
Frank J Boyd
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193218
Last Updated: 02/13/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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