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1138 N 74th Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,131 sqft Built 1961

$420,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $371.35
  • 2 Days on Market
  • MLS # : 6170862
  • Updated Date : 12/12/2020 at 21:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,131 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Hurry!!! Don't miss your chance to own this updated Old Town Scottsdale home. This immaculate 3 bedroom 2 bath home is 4 miles from ASU and 3 miles from all the great Old Town Scottsdale nightlife, restaurants, and shopping. Developments going on all around. New roof 2014. New master suite, walk-in shower, sprinkler system, extended back patio, hot water heater (50gal), updated intake city water supply from 1 to 1.75 (increased pressure), and microwave, stove and dishwasher all in 2016. All new windows, sliding glass door, counter tops, backsplash, under-mount sink and faucet, painted walls, cabinets, and new blinds all in 2018. Must see to appreciate this house!OWNER OCCUPIED

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: New Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9362993

* 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
Yavapai Elementary School Primary Regular 421 26 4
Coronado High School High Regular 1,039 61 2

Yavapai Elementary School

  • Education Level: Primary
  • # of students: 421
  • # of teachers: 26
4
GreatSchools Rating

Coronado High School

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

$378,000$462,000$420,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,550
Property Tax -$196
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$254

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.

$420,000

PROJECTED PRICE

$1,640

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,575

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $1,513

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,6404$1,6505$1,740
$1,740
RENT COMPS ANALYSIS
  • 1138 N 74th Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.45
    •  
  • 7525 E Diamond Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1960
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.24
    •  
  • 7415 E Beatrice Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1960
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.33
    •  
  • 7537 E Fillmore Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1961
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.45
    •  
  • 7401 E Belleview Street Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1959
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.33
    •  
PROPERTY LISTING DETAILS
Zachary S Weinberger
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170862
Last Updated: 12/12/2020
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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