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11161 N 89th Street Scottsdale, AZ 85260

2 Beds 2 Baths 1,518 sqft Built 1997

$315,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $207.51
  • 3 Days on Market
  • MLS # : 6164911
  • Updated Date : 11/28/2020 at 10:36
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,518 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Great opportunity in Scottsdale! This single story home with great room floorplan is ideally located near the 101, Shea and Cactus Corridor. With two bedrooms, two full baths and a large den, plus great room/dining room and 2 car garage. The back yard space is private and features a large play or entertaining area and patio space. Priced below recent sales to ensure the opportunity for the next owner to complete some upgrades and give the home some TLC. The Seller Disclosures are attached for you to view the current condition and repairs needed. You could turn this home into your dream home or investment property. Fantastic neighborhood, location and opportunity!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arizona Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Arizona Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10182993

* 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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,162
Property Tax -$172
Property Insurance -$57
HOA -$58
Property Management Fees -$99
CASH FLOW
$352

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$64,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,894

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$1,8504$1,9005$2,300
$2,300
RENT COMPS ANALYSIS
  • 11161 N 89th Street Scottsdale, AZ 4
    • 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.25
    •  
  • 11260 N 92nd Street #2057 Scottsdale, AZ 1
    • 2 beds 2 baths ∙ 1,553 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,553 Sqft ∙ Built 1995
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.09
    •  
  • 11260 N 92nd Street #2015 Scottsdale, AZ 2
    • 2 beds 2 baths ∙ 1,553 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,553 Sqft ∙ Built 1994
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.19
    •  
  • 11260 N 92nd Street #2025 Scottsdale, AZ 3
    • 2 beds 2 baths ∙ 1,553 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,553 Sqft ∙ Built 1994
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.19
    •  
  • 8901 E Garden Drive Scottsdale, AZ 5
    • 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 1997
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.52
    •  
PROPERTY LISTING DETAILS
Holly Henbest
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164911
Last Updated: 11/28/2020
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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