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11038 N 61st Street Scottsdale, AZ 85254

4 Beds 3 Baths 3,626 sqft Built 1977

$1,500,000

List Price

$5,290

$5K - $5.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $413.68
  • 3 Days on Market
  • MLS # : 6203503
  • Updated Date : 03/12/2021 at 21:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,626 sqft
  • Baths : 3 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Beautiful Santa Barbara in the heart of Scottsdale, sitting on almost an acre in a quiet cul de sac. From the welcoming front porch, enter into the great room with huge vaulted ceilings. Great room and kitchen open onto a generous patio overlooking a large grassy yard and a sparkling pool. Perfect outdoor spaces for entertaining with a built in BBQ. Full pool bath off the patio. Large master bedroom with a sitting area opens up to the patio as well. There are three other generously sized bedrooms. An addition in 2013 added a separate office with an exterior entrance and an additional two car tandem garage for a total of four garage spaces. Chaparral High School boundaries and a block away from Orange Tree golf perfect for evening strolls and bike rides. Don't miss this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Century Circle Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $122k812k

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

Neighborhood: Century Circle Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $10453854

* 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
Sequoya Elementary School Primary Regular 468 25 9
Cocopah Middle School Middle Regular 899 43 9
Chaparral High School High Regular 2,053 87 7

Sequoya Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 25
9
GreatSchools Rating

Cocopah Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 43
9
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,053
  • # of teachers: 87
7
GreatSchools Rating
 

$1,350,000$1,650,000$1,500,000

PURCHASE PRICE

$4,761$5,819$5,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,290
EXPENSES Loan Payment -$5,210
Property Tax -$768
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
-$885

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$1,500,000

PROJECTED PRICE

$5,290

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,210

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $375,000
Loan Amount $1,125,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$24,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,290

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $6,844

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$5,290
1$5,2902$6,0003$6,5004$6,5005$8,000
$8,000
RENT COMPS ANALYSIS
  • 11038 N 61st Street Scottsdale, AZ 1
    • 4 beds 3 baths ∙ 3,626 Sqft ∙ Built 1977 4 beds 3 baths ∙ 3,626 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $5,290
    • $1.46
    •  
  • 6016 E Beryl Avenue Paradise Valley, AZ 2
    • 4 beds 3 baths ∙ 3,578 Sqft ∙ Built 1978 4 beds 3 baths ∙ 3,578 Sqft ∙ Built 1978
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $1.68
    •  
  • 11409 N Saint Andrews Way Scottsdale, AZ 3
    • 4 beds 4 baths ∙ 3,544 Sqft ∙ Built 1971 4 beds 4 baths ∙ 3,544 Sqft ∙ Built 1971
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $1.83
    •  
  • 6441 E Cactus Road Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 3,448 Sqft ∙ Built 1960 4 beds 3 baths ∙ 3,448 Sqft ∙ Built 1960
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $1.89
    •  
  • 6044 E Shea Boulevard Scottsdale, AZ 5
    • 5 beds 5 baths ∙ 3,721 Sqft ∙ Built 1970 5 beds 5 baths ∙ 3,721 Sqft ∙ Built 1970
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $8,000
    • $2.15
    •  
PROPERTY LISTING DETAILS
Laura Jorden
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203503
Last Updated: 03/12/2021
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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