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19218 N 88th Way Scottsdale, AZ 85255

5 Beds 3 Baths 3,318 sqft Built 1991

$734,900

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1991
  • Price/Sqft : $221.49
  • 89 Days on Market
  • MLS # : 6114255
  • Updated Date : 10/29/2020 at 17:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,318 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Elegant Scottsdale Living. Open foyer with soaring ceilings & curved staircase invite you into a space perfect for entertaining. Sunken formal living room. New wood plank tile downstairs. Formal dining room adjacent to spacious kitchen with granite island & generous cabinet space, stainless steel electric cooktop, wall oven & microwave. Walk-in pantry. Breakfast nook has bay window. Family room has cozy fireplace & wet bar. Bedroom & full bath downstairs. Bath has access to pool area. Four bedrooms up including large owner's suite with private balcony. Updated Ensuite has split double sinks, garden tub, tiled shower & two walk-in closets. Enjoy private backyard & free form pool with enclosure fence. Double RV Gate with paved space for additional parking. Three car garage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estates at Ironwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $122k610k

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

Neighborhood: Estates at Ironwood Village

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
 

$661,410$808,390$734,900

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$2,711
Property Tax -$344
Property Insurance -$92
HOA -$6
Property Management Fees -$99
CASH FLOW
$338

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.

$734,900

PROJECTED PRICE

$3,590

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.1%
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$0.0$10k$20k$30k$40k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$200,499

INVESTMENT

$200,499

Down Payment
$183,725
Rehab Estimate
$5,750
Closing Costs
$11,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,711

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $183,725
Loan Amount $551,175
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$90,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $3,890

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,3003$3,5904$4,5005$4,500
$4,500
RENT COMPS ANALYSIS
  • 19218 N 88th Way Scottsdale, AZ 3
    • 5 beds 3 baths ∙ 3,318 Sqft ∙ Built 1991 5 beds 3 baths ∙ 3,318 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.08
    •  
  • 9389 E Maple Drive Scottsdale, AZ 1
    • 5 beds 3 baths ∙ 3,144 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,144 Sqft ∙ Built 1994
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.94
    •  
  • 19204 N 92nd Street Scottsdale, AZ 2
    • 4 beds 4 baths ∙ 3,048 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,048 Sqft ∙ Built 1994
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.08
    •  
  • 18389 N 93rd Place Scottsdale, AZ 4
    • 5 beds 4 baths ∙ 3,378 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,378 Sqft ∙ Built 2006
    LEASED 05/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.33
    •  
  • 9553 E Nittany Drive Scottsdale, AZ 5
    • 5 beds 3 baths ∙ 3,361 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,361 Sqft ∙ Built 1994
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.34
    •  
PROPERTY LISTING DETAILS
Dewitt Lang
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6114255
Last Updated: 10/29/2020
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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