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16414 N 62nd Street Scottsdale, AZ 85254

4 Beds 3 Baths 2,460 sqft Built 1986

$810,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $329.27
  • 4 Days on Market
  • MLS # : 6208864
  • Updated Date : 03/21/2021 at 04:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,460 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Desirable ''NORTH RANCH'', Scottsdale! Kierland area single family home on a cul-du-sac lot. Beautiful, recently updated kitchen with custom cabinetry featuring pull out shelving, quartz countertops, stainless & island. The owner's suite-split from the other three bedrooms-offers two closets, separate exit to the backyard & gorgeously updated bath. Also updated: full hall bath with 2 sinks & the powder room. Large pie shaped backyard with custom pergola, travertine pavers, mature plants, turf, play pool & side yard with raised garden planter. 2.5 car garage is ready for your car charger! Custom window treatments, water softener & heavy duty garage shelving. Close to North Ranch elementary, Jackrabbit Park & some of the best shopping & restaurants in the entire metro area!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k544k

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

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10453096

* 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
Desert Shadows Middle School Middle Regular 906 34 9
Horizon High School High Regular 2,262 86 8
Desert Shadows Middle School Middle Unknown NA

Desert Shadows Middle School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 34
9
GreatSchools Rating

Horizon High School

  • Education Level: High
  • # of students: 2,262
  • # of teachers: 86
8
GreatSchools Rating

Desert Shadows Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$729,000$891,000$810,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,813
Property Tax -$606
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$684

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.

$810,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$220,400

INVESTMENT

$220,400

Down Payment
$202,500
Rehab Estimate
$5,750
Closing Costs
$12,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,813

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $202,500
Loan Amount $607,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,878

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7003$2,9004$2,9105$3,100
$3,100
RENT COMPS ANALYSIS
  • 16414 N 62nd Street Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.18
    •  
  • 5945 E Kelton Lane Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,472 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,472 Sqft ∙ Built 1991
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.09
    •  
  • 16631 N 59th Place Scottsdale, AZ 2
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1988
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
  • 16627 N 61st Way Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 2,310 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,310 Sqft ∙ Built 1991
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.26
    •  
  • 16831 N 62 Place Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1996
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.21
    •  
PROPERTY LISTING DETAILS
Joan Pike
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208864
Last Updated: 03/21/2021
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.

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