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20802 N Grayhawk Drive #1049 Scottsdale, AZ 85255

2 Beds 3 Baths 1,811 sqft Built 1998

$470,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $259.53
  • 2 Days on Market
  • MLS # : 6166597
  • Updated Date : 12/12/2020 at 19:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,811 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

THIS CONDO IS ON THE CORNER AND HAS NO NEIGHBORS ON THREE SIDES, THE MASTER AND SECOND BEDROOM PLUS OFFICE FACE THOMPSON PEAK. HIGH CEILINGS, LARGE PATIO OFF MASTER AND FAMILY ROOM, GAS FIREPLACE, TWO CAR GARAGE. WASHER AND DRYER DO NOT CONVEY. WE START SHOWINGS ON MONDAY DEC 14TH.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Avian at Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Avian at Grayhawk

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
Grayhawk Elementary School Primary Regular 597 32 10
Grayhawk Elementary School Middle Regular 597 32 10
Pinnacle High School High Regular 2,443 96 8

Grayhawk Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 32
10
GreatSchools Rating

Grayhawk Elementary School

  • Education Level: Middle
  • # of students: 597
  • # of teachers: 32
10
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

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

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$1,734
Property Tax -$350
Property Insurance -$63
HOA -$102
Property Management Fees -$99
CASH FLOW
$493

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.

$470,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$87,889

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
  • $2,572

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,3504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 20802 N Grayhawk Drive #1049 Scottsdale, AZ 1
    • 2 beds 3 baths ∙ 1,811 Sqft ∙ Built 1998 2 beds 3 baths ∙ 1,811 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 19475 N Grayhawk Drive #1153 Scottsdale, AZ 2
    • 2 beds 3 baths ∙ 1,665 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,665 Sqft ∙ Built 2004
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
  • 20750 N 87th Street #1060 Scottsdale, AZ 3
    • 2 beds 3 baths ∙ 1,725 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,725 Sqft ∙ Built 2006
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.36
    •  
  • 19475 N Grayhawk Drive #1160 Scottsdale, AZ 4
    • 2 beds 3 baths ∙ 1,666 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,666 Sqft ∙ Built 2003
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.50
    •  
  • 20750 N 87th Street #1105 Scottsdale, AZ 5
    • 2 beds 3 baths ∙ 1,736 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,736 Sqft ∙ Built 2007
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.50
    •  
PROPERTY LISTING DETAILS
Tammy Colleen Schembri
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166597
Last Updated: 12/12/2020
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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