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18024 N 55th Street Scottsdale, AZ 85254

3 Beds 2 Baths 2,223 sqft Built 1986

$650,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $292.40
  • 2 Days on Market
  • MLS # : 6180570
  • Updated Date : 02/06/2021 at 18:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,223 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Beautiful home on generous cul-de-sac lot that backs to the canal. Three bedrooms plus den/office. Updated cabinetry and granite countertops. Center island kitchen with eat in area as well as formal dining room. Separate living and family room. Fenced play pool has been recently resurfaced. Grassy play area in back. Tile and carpet flooring. Updated cabinetry in baths.Master has two closets. Radiant barrier (extra insullation added in attic) A/C under warranty until 2022. RV Gate and no HOA Professional pictures to be added by Feb 10.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arabian Views

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $122k627k

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

Neighborhood: Arabian Views

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10453312

* 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
Sunrise Middle School Middle Regular 492 23 7
Horizon High School High Regular 2,262 86 8
Sunrise Middle School Middle Unknown NA

Sunrise Middle School

  • Education Level: Middle
  • # of students: 492
  • # of teachers: 23
7
GreatSchools Rating

Horizon High School

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

Sunrise Middle School

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

$585,000$715,000$650,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,258
Property Tax -$486
Property Insurance -$71
Property Management Fees -$99
CASH FLOW
-$214

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.

$650,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.3%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$20,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,729

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7003$2,7004$2,8505$2,850
$2,850
RENT COMPS ANALYSIS
  • 18024 N 55th Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.21
    •  
  • Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 1987
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.19
    •  
  • 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
    •  
  • 16816 N 51st Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 1998
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.24
    •  
  • 5724 E Campo Bello Drive Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 2,101 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,101 Sqft ∙ Built 1985
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.36
    •  
PROPERTY LISTING DETAILS
Donna Cilley
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180570
Last Updated: 02/06/2021
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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