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23383 N 73rd Way Scottsdale, AZ 85255

2 Beds 3 Baths 1,957 sqft Built 2019

$550,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $281.04
  • 6 Days on Market
  • MLS # : 6166398
  • Updated Date : 12/04/2020 at 12:14
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,957 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Stunning and modern curb appeal! Gorgeous tile throughout home with open floor plan and plenty of windows to fill the home with light. Large center island in kitchen, beautiful quartz counters (in baths as well), all stainless steel appliances, gas range cooktop and gorgeous tile backsplash. Glass door off the family room leads to private and peaceful back patio. Upstairs landing can be used as gym, playroom, office or flex area. Home contains dual master bedrooms with en suites both featuring dual sinks and gorgeous walk-in showers with immaculate and modern tiling. This is a must see and will not last long!

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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,029
Property Tax -$409
Property Insurance -$65
HOA -$189
Property Management Fees -$99
CASH FLOW
-$172

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.

$550,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.48%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,750

INVESTMENT

$147,750

Down Payment
$137,500
Rehab Estimate
$2,000
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,622

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,620
1$2,6202$3,000
$3,000
RENT COMPS ANALYSIS
  • 23383 N 73rd Way Scottsdale, AZ 1
    • 2 beds 3 baths ∙ 1,957 Sqft ∙ Built 2019 2 beds 3 baths ∙ 1,957 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.34
    •  
  • 7932 E Feathersong Lane Scottsdale, AZ 2
    • 2 beds 3 baths ∙ 2,242 Sqft ∙ Built 2000 2 beds 3 baths ∙ 2,242 Sqft ∙ Built 2000
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.34
    •  
PROPERTY LISTING DETAILS
Darren H Tackett
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166398
Last Updated: 12/04/2020
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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