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11502 N 88th Place Scottsdale, AZ 85260

3 Beds 2 Baths 1,369 sqft Built 1982

INVESTimate

$405,900

List Price

$2,080

$1,872 - $2,288

Rent Est.

$421,405  ( +3.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $296.49
  • 2 Days on Market
  • MLS # : 6108671
  • Updated Date : 08/25/2020 at 09:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,369 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful new kitchen, all new flooring - LVT everywhere except for carpeting in the bedrooms in this freshly updated home with a pool on a great cul de sac lot, located in a convenient Scottsdale neighborhood Open floor plan that is light and bright with vaulted ceilings. Looking for a home that's close to great Scottsdale schools including BASIS, Great Hearts Academy, Desert Mountain, Chaparral - This is it! Looking for a lock and leave home - Look no further! Looking for a convenient location close to restaurants, shopping, Honor Health, Mayo Clinic - Absolutely! Looking for a home that has been updated, in a great location and AFFORDABLE - YES! YES! Yes!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Vista West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Scottsdale Vista West

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
 

$365,310$446,490$405,900

PURCHASE PRICE

$1,872$2,288$2,080

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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,498
Property Tax -$192
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
$238

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.

$405,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 3.82%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,314

INVESTMENT

$113,314

Down Payment
$101,475
Rehab Estimate
$5,750
Closing Costs
$6,089

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,498

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,475
Loan Amount $304,425
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$58,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,071

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$2,0804$2,0995$2,500
$2,500
RENT COMPS ANALYSIS
  • 11502 N 88th Place Scottsdale, 3
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.52
    •  
  • 8874 E Gail Road Scottsdale, 1
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1998
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.45
    •  
  • 11663 N 91st Way Scottsdale, 2
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1986
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.56
    •  
  • 8949 E Shangri La Road Scottsdale, 4
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1997
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $1.38
    •  
  • 9025 E Cortez Street Scottsdale, 5
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1985
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.66
    •  
PROPERTY LISTING DETAILS
Holly Reyes
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6108671
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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