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1119 N 71st Street Scottsdale, AZ 85257

4 Beds 3 Baths 2,099 sqft Built 1960

$547,500

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $260.84
  • 2 Days on Market
  • MLS # : 6165647
  • Updated Date : 11/28/2020 at 15:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,099 sqft
  • Baths : 3 full
Listing Agent

Go 4 Cash Flow

Listing Agent's Description

Hurry to see this welcoming 3 bedroom/2 bath completely remodeled home with an additional 1bed/1bath room Casita. In the main home you will find an open floor plan with a charming fireplace, eat-in kitchen and plenty of light bright living space. The home sports a master suite with two closets and an updated bathroom with 2 vanities and a sub tiled shower. The patio off the living area allows you to relax in the Arizona sun. Step out the kitchen to the separate laundry room. Follow the brick path to the casita where you find a large living space, a walk-in closet, full bathroom and a kitchenette. A new mini-split ensures that it's a comfortable place to work or use as a short term rental with an RV gate and its own parking area.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9912993

* 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
Tonalea K-8 School Primary Regular 341 26 3
Tonalea K-8 School Middle Regular 341 26 3
Coronado High School High Regular 1,039 61 2

Tonalea K-8 School

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 26
3
GreatSchools Rating

Tonalea K-8 School

  • Education Level: Middle
  • # of students: 341
  • # of teachers: 26
3
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$492,750$602,250$547,500

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$2,020
Property Tax -$256
Property Insurance -$68
Property Management Fees -$99
CASH FLOW
-$293

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.

$547,500

PROJECTED PRICE

$2,150

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.8%
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$500k$1.0M$1.5M$2.0M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,838

INVESTMENT

$150,838

Down Payment
$136,875
Rehab Estimate
$5,750
Closing Costs
$8,213

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,020

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $136,875
Loan Amount $410,625
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$17,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,629

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2953$2,4004$2,7005$2,895
$2,895
RENT COMPS ANALYSIS
  • 1119 N 71st Street Scottsdale, AZ 1
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
  • 813 N 73rd Place Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 1961
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.10
    •  
  • 1326 N 71st Street Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 1958 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 1958
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
  • 6843 E Culver Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1959 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1959
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.31
    •  
  • 6919 E Moreland Street Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1959
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.41
    •  
PROPERTY LISTING DETAILS
Teresa Perrine
Go 4 Cash Flow
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165647
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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