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11246 E Mercer Lane Scottsdale, AZ 85259

3 Beds 2 Baths 1,812 sqft Built 1989

INVESTimate

$465,000

List Price

$2,100

$1,890 - $2,310

Rent Est.

$478,206  ( +2.84%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $256.62
  • 6 Days on Market
  • MLS # : 6119317
  • Updated Date : 08/21/2020 at 13:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Welcome to Scottsdale!! Fantastic Fully Furnished!! 3 bedroom 2 bath 2CG home with a Great Room Floor plan. Vaulted Ceilings, Gas Fireplace, Wet Bar, Wine Rack, Refreshing Pool (Also heated). Attached Hot Tub, Upgrades include Stainless Steel Appliances, Double Oven, Granite Slab Counters, Alder Cabinets, Plantation Shutters, Private Atrium, Tile Floors, Separate Tub & Shower, Dining Room, Inside laundry, Refrigerator, French Doors, Washer & Dryer Included, WiFi controlled thermostat and Pool-Spa Functions, Sunscreens. Oversized lot w/ extended patio, Outside Beehive Fireplace, Private Pool Courtyard and very quiet seclusive location. Home is well maintained. This would be a great lock and leave property, rental investment, or full time residence.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cholla Vista

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Cholla Vista

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
Anasazi Elementary School Primary Regular 567 31 9
Mountainside Middle School Middle Regular 766 36 8
Desert Mountain High School High Regular 2,247 94 8

Anasazi Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 31
9
GreatSchools Rating

Mountainside Middle School

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 36
8
GreatSchools Rating

Desert Mountain High School

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

$418,500$511,500$465,000

PURCHASE PRICE

$1,890$2,310$2,100

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

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 $2,100
EXPENSES Loan Payment -$1,716
Property Tax -$217
Property Insurance -$63
HOA -$36
Property Management Fees -$99
CASH FLOW
-$31

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.

$465,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.84%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$30,412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,193

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1003$2,3954$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 11246 E Mercer Lane Scottsdale, 2
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.16
    •  
  • 11367 E Jenan Drive Scottsdale, 1
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1987
    property image
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.13
    •  
  • 10777 N 109th Way Scottsdale, 3
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1984
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.19
    •  
  • 10732 N 113th Street Scottsdale, 4
    • 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1994
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.25
    •  
  • 11115 E Mercer Lane Scottsdale, 5
    • 4 beds 2 baths ∙ 1,971 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,971 Sqft ∙ Built 1983
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.27
    •  
PROPERTY LISTING DETAILS
Darrin M Fox
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119317
Last Updated: 08/21/2020
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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