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18563 N 98th Place Scottsdale, AZ 85255

4 Beds 3 Baths 2,979 sqft Built 2013

INVESTimate

$1,150,000

List Price

$3,970

$3,720 - $4,220

Rent Est.

$1,184,730  ( +3.02%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $386.04
  • 4 Days on Market
  • MLS # : 6116922
  • Updated Date : 08/25/2020 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,979 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Turnkey perfection in the highly sought after Windgate Ranch Community! Curb appeal, tasteful and luxurious high-end finishes, an incredible floor plan, and not having to change a thing - this is all for you at 18563 N 98TH PL, so don't miss out! Stunning glazed porcelain tile flows throughout the most loved and lived in areas and arched doorways lead you from room to room. A formal dining room with a stunning light fixture, gorgeous accent wall and custom shutter catches your eye on the way to the gourmet kitchen. Here you'll love the massive kitchen island with granite countertops and a generous amount of usable surface, a custom backsplash, double ovens, a stainless refrigerator and gas range. This dream kitchen shares space with a living room bathed in natural light (CLICK MORE!)

SEE MORE

PRICE & RENT TRENDS

Neighborhood: McDowell Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $122k646k

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

Neighborhood: McDowell Mountain Ranch

NeighborhoodNIR 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
Copper Ridge School Primary Regular 1,089 55 8
Copper Ridge School Middle Regular 1,089 55 8
Chaparral High School High Regular 2,053 87 7

Copper Ridge School

  • Education Level: Primary
  • # of students: 1,089
  • # of teachers: 55
8
GreatSchools Rating

Copper Ridge School

  • Education Level: Middle
  • # of students: 1,089
  • # of teachers: 55
8
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,053
  • # of teachers: 87
7
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,573$4,367$3,970

RENT

DOWN PAYMENT
FINANCING

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-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,970
EXPENSES Loan Payment -$4,243
Property Tax -$538
Property Insurance -$85
HOA -$258
Property Management Fees -$99
CASH FLOW
-$1,253

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.

$1,150,000

PROJECTED PRICE

$3,970

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.02%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,940

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6003$3,8004$3,9005$4,300
$4,300
RENT COMPS ANALYSIS
  • 18563 N 98th Place Scottsdale, 1
    • 4 beds 3 baths ∙ 2,979 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,979 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9451 E Trailside View Scottsdale, 2
    • 4 beds 4 baths ∙ 3,017 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,017 Sqft ∙ Built 2004
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.19
    •  
  • 18387 N 93rd Way Scottsdale, 3
    • 3 beds 3 baths ∙ 3,019 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,019 Sqft ∙ Built 2006
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.26
    •  
  • 18508 N 94th Street Scottsdale, 4
    • 3 beds 3 baths ∙ 2,829 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,829 Sqft ∙ Built 2015
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.38
    •  
  • 9589 E Nittany Drive Scottsdale, 5
    • 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 1994
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.46
    •  
PROPERTY LISTING DETAILS
Kelly Henderson
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6116922
Last Updated: 08/25/2020
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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