Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

13290 E Sorrel Lane Scottsdale, AZ 85259

4 Beds 4 Baths 3,421 sqft Built 1996

$949,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $277.40
  • 4 Days on Market
  • MLS # : 6212085
  • Updated Date : 03/27/2021 at 05:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,421 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Nestled at the base of the mountain enjoy Arizona living at its finest in the gated community of Carino Canyon. This single-level, split floor plan, features 4 bedrooms, three and a half bathrooms, an office with custom built-ins, and a resort-style backyard. The light-filled chef's kitchen with double islands, a breakfast bar and double ovens overlooks the family room with a magnificent mountain. The home has multiple entertaining spaces including a separate dining room and covered patios that span the entire backyard. The pool was remodeled in 2019 with new a pebble sheen surface, variable speed pump and a new filter. Also in 2019, a custom island with gas BBQ was installed to compliment the outdoor wood-burning fireplace. The spacious owner's suite features a separate sitting area and

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Carino Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800kPrice in $122k856k

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

Neighborhood: Carino Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10454800

* 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
Laguna Elementary School Primary Regular 546 29 9
Mountainside Middle School Middle Regular 766 36 8
Desert Mountain High School High Regular 2,247 94 8

Laguna Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 29
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
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,296
Property Tax -$444
Property Insurance -$94
HOA -$10
Property Management Fees -$99
CASH FLOW
-$33

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$949,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$51,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,910

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $3,062

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9003$3,2004$3,3005$3,910
$3,910
RENT COMPS ANALYSIS
  • 13290 E Sorrel Lane Scottsdale, AZ 5
    • 4 beds 4 baths ∙ 3,421 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,421 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,910
    • $1.14
    •  
  • 11265 N 130th Way Scottsdale, AZ 1
    • 5 beds 3 baths ∙ 3,253 Sqft ∙ Built 1991 5 beds 3 baths ∙ 3,253 Sqft ∙ Built 1991
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.89
    •  
  • 12863 E Becker Lane Scottsdale, AZ 2
    • 4 beds 3 baths ∙ 3,276 Sqft ∙ Built 1991 4 beds 3 baths ∙ 3,276 Sqft ∙ Built 1991
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.89
    •  
  • 11036 N 129th Way Scottsdale, AZ 3
    • 5 beds 4 baths ∙ 3,720 Sqft ∙ Built 1989 5 beds 4 baths ∙ 3,720 Sqft ∙ Built 1989
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.86
    •  
  • 11302 N 131st Place Scottsdale, AZ 4
    • 5 beds 3 baths ∙ 3,514 Sqft ∙ Built 1991 5 beds 3 baths ∙ 3,514 Sqft ∙ Built 1991
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Josef M Szabo
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212085
Last Updated: 03/27/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy