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15629 E Scorpion Drive Fountain Hills, AZ 85268

3 Beds 2 Baths 1,943 sqft Built 1994

$499,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $257.28
  • 4 Days on Market
  • MLS # : 6144540
  • Updated Date : 10/31/2020 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,943 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This one you have to see!!! Check out the mountain views and sunset over the McDowell Mountains. Just recently updated kitchen with Quartz counter tops!! All wood floors throughout home except kitchen, bathrooms and laundry rooms have beautiful tile. Stainless Steel appliances and backsplash to compliment the kitchen updates. Dining area has a big built-in hutch for all your dishes. Working from your home? Check out this large home office or craft room. Gorgeous stone fireplace and lovely door in the family room that looks out to the well established landscape. Patio and backyard is for entertaining with views on the large lot. Lot is big enough to put in a pool. Garage floors have epoxy. Make this one your last stop!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452077

* 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
Four Peaks Elementary School Primary Regular 243 9 6
Fountain Hills Middle School Middle Regular 372 22 7
Fountain Hills High School High Regular 617 31 7

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 9
6
GreatSchools Rating

Fountain Hills Middle School

  • Education Level: Middle
  • # of students: 372
  • # of teachers: 22
7
GreatSchools Rating

Fountain Hills High School

  • Education Level: High
  • # of students: 617
  • # of teachers: 31
7
GreatSchools Rating
 

$449,910$549,890$499,900

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 -$1,844
Property Tax -$251
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
-$239

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.

$499,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$16,124

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
  • $1.04

    LIST RENT PER SQFT
  • $2,332

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,2003$2,2954$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 15629 E Scorpion Drive Fountain Hills, AZ 1
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.04
    •  
  • 15223 E Aspen Drive Fountain Hills, AZ 2
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1997
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.26
    •  
  • 16027 N Overlook Court Fountain Hills, AZ 3
    • 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 1976 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 1976
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 16430 N Palo Verde Lane Fountain Hills, AZ 4
    • 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 1996
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.16
    •  
  • 15943 E Centipede Drive Fountain Hills, AZ 5
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1985
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
PROPERTY LISTING DETAILS
Kay Speake
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6144540
Last Updated: 10/31/2020
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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