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11051 N 87th Place Scottsdale, AZ 85260

4 Beds 2 Baths 1,856 sqft Built 1995

INVESTimate

$480,000

List Price

$2,210

$1,989 - $2,431

Rent Est.

$497,280  ( +3.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $258.62
  • 6 Days on Market
  • MLS # : 6120700
  • Updated Date : 08/25/2020 at 16:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

The Daniel Montez Real Estate Group

Listing Agent's Description

Nestled in a niche community of less then 100 homes in Scottsdale, this immaculate home was recently updated with finishes that make your home bright and inviting with vaulted ceilings, and a highly desired split floor plan. The home features 4 bedrooms, 2 bathroom, oasis backyard with pebble tec play pool, family room, formal living and dining rooms. The gourmet kitchen features stainless steel appliances and fixtures, granite counters, kitchen island, and opens to the family room. The master bedroom boasts an open feel with a bathroom that gives you a high end spa atmosphere in the comfort of your own home. The backyard is manicured perfectly with the perfect landscaping, patio stone, play pool, and large shade patio. On corner/cul-de-sac in the neighborhood with no through traffic.

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PRICE & RENT TRENDS

Neighborhood: Pima Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Pima Crossing

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
Cochise Elementary School Primary Regular 579 33 10
Cocopah Middle School Middle Regular 899 43 9
Chaparral High School High Regular 2,053 87 7

Cochise Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 33
10
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
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,771
Property Tax -$248
Property Insurance -$63
HOA -$26
Property Management Fees -$99
CASH FLOW
$3

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.

$480,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.60%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$34,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,399

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2103$2,2504$2,2955$2,780
$2,780
RENT COMPS ANALYSIS
  • 11051 N 87th Place Scottsdale, 2
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.19
    •  
  • 8630 E Mescal Street Scottsdale, 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1994
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.22
    •  
  • 8180 E Shea Boulevard #1087 Scottsdale, 3
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1996
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.27
    •  
  • 8849 E Kalil Drive Scottsdale, 4
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1978
    property image
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.28
    •  
  • 8666 E Cheryl Drive Scottsdale, 5
    • 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1983
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.40
    •  
PROPERTY LISTING DETAILS
Christopher Neil Dudley
The Daniel Montez Real Estate Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120700
Last Updated: 08/25/2020
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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