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23378 N 74th Place Scottsdale, AZ 85255

3 Beds 3 Baths 2,113 sqft Built 2019

$795,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $376.24
  • 5 Days on Market
  • MLS # : 6155229
  • Updated Date : 11/05/2020 at 15:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,113 sqft
  • Baths : 3 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

This new luxury villa has every upgrade possible. White ice quartz covers the waterfall island with upgraded GE Monogram appliances in the gourmet kitchen. The open floorpan is split with a spacious master suite in the back of the house. The patio is accessed by a 15 ft multi-slide door which is wired for TV and sound. Each of the front bedrooms have their own bathrooms. Enter from the garage past the key drop in the mud room and laundry. Home is wired with external monitoring of security and temperature control through BlackHat Security. Every conceivable upgrade was added to this home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k549k

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

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10453434

* 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
Pinnacle Peak Elementary School Primary Regular 610 31 9
Pinnacle Peak Elementary School Middle Regular 610 31 9
Pinnacle High School High Regular 2,443 96 8

Pinnacle Peak Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 31
9
GreatSchools Rating

Pinnacle Peak Elementary School

  • Education Level: Middle
  • # of students: 610
  • # of teachers: 31
9
GreatSchools Rating

Pinnacle High School

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

$715,500$874,500$795,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$2,933
Property Tax -$592
Property Insurance -$68
HOA -$258
Property Management Fees -$99
CASH FLOW
-$880

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$795,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
Maintenance Year (1-5) 3.00%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,675

INVESTMENT

$212,675

Down Payment
$198,750
Rehab Estimate
$2,000
Closing Costs
$11,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $198,750
Loan Amount $596,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $3,064

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,8953$3,0704$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 23378 N 74th Place Scottsdale, AZ 3
    • 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $1.45
    •  
  • 7332 E Vista Bonita Drive Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2018
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.22
    •  
  • 7326 E Vista Bonita Drive Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2018
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.48
    •  
  • 7351 E Vista Bonita Drive Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2018
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.58
    •  
  • 23265 N 73rd Way Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2019
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.52
    •  
PROPERTY LISTING DETAILS
Judy Lemarr
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155229
Last Updated: 11/05/2020
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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