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10159 E Floriade Drive Scottsdale, AZ 85260

4 Beds 2 Baths 1,879 sqft Built 1994

$585,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $311.34
  • 2 Days on Market
  • MLS # : 6157052
  • Updated Date : 11/07/2020 at 22:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,879 sqft
  • Baths : 2 full
Listing Agent

Corcoran Platinum Living

Listing Agent's Description

Bring your pickiest buyer. This home not only has been completely remodeled, but seller has added numerous upgrades in the past year. Literally just about everything has been updated. Please see docs tab for detailed list. Gorgeous open floor plan with tons of natural light. Brand new cabinets throughout, wood plank tile floor, quartz countertops, 7 1/4'' baseboards, designer Statement tile, freestanding soaker tub, stainless steel appliances, new plumbing and lighting fixtures, brand new a/c, new heat pump, new roof underlayment, new hot water heater, new water softener system, Home surge protector and so much more. This home actually is MOVE IN READY and is conveniently located in a quiet neighborhood close to everything! Home is also Pearl - Silver Certified. This one will go fast!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Stonebrook

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k470k

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

Neighborhood: Scottsdale Stonebrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10452993

* 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
Redfield Elementary School Primary Regular 513 33 8
Desert Canyon Middle School Middle Regular 566 29 8
Desert Mountain High School High Regular 2,247 94 8

Redfield Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 33
8
GreatSchools Rating

Desert Canyon Middle School

  • Education Level: Middle
  • # of students: 566
  • # of teachers: 29
8
GreatSchools Rating

Desert Mountain High School

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

$526,500$643,500$585,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$2,158
Property Tax -$274
Property Insurance -$64
HOA -$6
Property Management Fees -$99
CASH FLOW
-$291

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.

$585,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$18,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,513

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3103$2,4504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 10159 E Floriade Drive Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 1,879 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,879 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.23
    •  
  • 14203 N 101st Street Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 1987
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.23
    •  
  • 10137 E Conieson Road Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1994
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.30
    •  
  • 10091 E Gray Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1992
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.42
    •  
  • 10107 E Meadow Hill Drive Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1994
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.40
    •  
PROPERTY LISTING DETAILS
Michelle L. Noma
Corcoran Platinum Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157052
Last Updated: 11/07/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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