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2037 N 87th Way Scottsdale, AZ 85257

3 Beds 2 Baths 1,464 sqft Built 1973

$485,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $331.28
  • 4 Days on Market
  • MLS # : 6186468
  • Updated Date : 01/28/2021 at 23:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,464 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Extremely cared for & Nicely updated. This home will impress you from the minute you walk-in W/ its elegant vaulted ceilings, light & bright OPEN floorplan, brand new kitchen w/Quarts counters, center island, SS hood, all new cabinet & SS appliances. Large master w/spacious walk-in closet & bath. Both bathrooms were remodeled w/new vanities & travertine tile showers. Additional features: Dual-Pane windows, Wood shutters thru-out, Tile flooring (no carpet) & light fixtures, A/C replaced (2014). Backyard offers covered patio, seating area & pool. 2 car garage w/ storage, EZ care landscaping w/synthetic grass. Exterior painted(Dec 2020) Private & Quiet! located at the end of a cul-de-sac. Close to Old Town, Fashion Square Mall, tons of Restaurants/shopping & 101 Freeway. Worth the look!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pima Villas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $108k465k

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

Neighborhood: Pima Villas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10182993

* 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
Hohokam Traditional School Primary Regular 432 30 6
Coronado High School High Regular 1,039 61 2
Coronado High School High Unknown NA

Hohokam Traditional School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 30
6
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating

Coronado High School

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

$436,500$533,500$485,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,685
Property Tax -$227
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$66

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$485,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530$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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$25,311

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
  • $1,991

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9003$1,9754$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 2037 N 87th Way Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8622 E Granada Road Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1962
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.29
    •  
  • 1818 N 87th Terrace Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1973
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.35
    •  
  • 1826 N 87th Way Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1973
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.36
    •  
  • 8716 E Oak Street Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1960
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.44
    •  
PROPERTY LISTING DETAILS
Vincent F Zerilli
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186468
Last Updated: 01/28/2021
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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