Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2044 N 87th Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,405 sqft Built 1961

$470,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $334.52
  • 4 Days on Market
  • MLS # : 6208948
  • Updated Date : 03/20/2021 at 22:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,405 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Fantastic South Scottsdale corner lot with an open layout, pool, and large backyard. New dual pane windows, shutters, and doors (2019) A/C (2020) water softener and pool pump (2018)Updated granite countertops with maple cabinets, updated fixtures and fans, and fresh paint on the walls. Neutral stone look throughout the house. Pavered backyard patio and circular driveway. Close to the 101 freeway, spring training, Old Town, and and many of the valleys popular restaurants and shopping areas. Come see it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cox Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Cox Heights

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
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,632
Property Tax -$220
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$76

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.

$470,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.9%
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$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$23,522

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9304$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 2044 N 87th Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.37
    •  
  • 2007 N 87th Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1961
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.40
    •  
  • 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
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.29
    •  
  • 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
    property image
    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
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.44
    •  
PROPERTY LISTING DETAILS
Bryce M Dreager
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208948
Last Updated: 03/20/2021
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.

BESbswy