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15550 N Frank Lloyd Wright Boulevard #1104 Scottsdale, AZ 85260

3 Beds 3 Baths 1,656 sqft Built 1997

$390,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $235.51
  • 4 Days on Market
  • MLS # : 6162356
  • Updated Date : 11/19/2020 at 20:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,656 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Wonderful single-family home in the gated Village at Frank Lloyd Wright neighborhood. Situated on one of the best interior lots in the subdivision, well away from busy streets, adjacent to ample guest parking, and close, but not too close to the community pool! This is the largest builder model. Neutral tile and carpeting throughout. Light and bright kitchen with white cabinets, counters, and appliances. HUGE master suite with walk-in closet and separate shower & tub. Private, north-facing backyard with spa. Full tile roof, 2 car garage, water softener, and more! Prime location with ready access to the Loop 101 freeway. You won't find much in this area that is comparable at this price point, as evidenced by how quickly homes in the subdivision have been selling. Hurry!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Village at Frank Lloyd Wright

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: The Village at Frank Lloyd Wright

ZipNIR 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
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
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,439
Property Tax -$182
Property Insurance -$59
HOA -$29
Property Management Fees -$99
CASH FLOW
$211

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.

$390,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$50,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,012

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9953$2,0004$2,0205$2,100
$2,100
RENT COMPS ANALYSIS
  • 15550 N Frank Lloyd Wright Boulevard #1104 Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.22
    •  
  • 15550 N Frank Lloyd Wright Boulevard #1036 Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1997
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
  • 15550 N Frank Lloyd Wright Boulevard #1095 Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.20
    •  
  • 15550 N Frank Lloyd Wright Boulevard N #1091 Scottsdale, AZ 3
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
  • 9270 E Pine Valley Road Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1995
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.30
    •  
PROPERTY LISTING DETAILS
Paul D Slaybaugh
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162356
Last Updated: 11/19/2020
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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