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24076 N 116th Way Scottsdale, AZ 85255

4 Beds 4 Baths 3,305 sqft Built 1998

$1,150,000

List Price

$4,100

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $347.96
  • 2 Days on Market
  • MLS # : 6206813
  • Updated Date : 03/14/2021 at 02:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,305 sqft
  • Baths : 3 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Beautiful single level with no-steps, 4 bedroom, 3.5 baths and 3 car garage. This home sits on a premium lot with stunning Mountain and Sunset Views in Desert Crest at Troon Ridge with a magnificent backdrop of the highly sought after desert preserve land and mountains. The backyard is a desert oasis with heated Pebble Tec swimming pool and spa, outdoor fireplace, gas BBQ, and large covered patio to create a true indoor/outdoor Arizona living space. You'll love entertaining with the open floor plan, 12' ceilings, abundance of natural light and spacious kitchen with gas stove, granite countertops and a separate bar. The well-appointed split master suite with double vanities, bath, shower and generous walk in closet is private from the 3 additional bedrooms, 2 with en-suite bathrooms...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Crest at Troon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $122k751k

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

Neighborhood: Desert Crest at Troon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $10453942

* 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
Sonoran Trails Middle School Middle Regular 841 39 9
Cactus Shadows High School High Regular 1,704 70 8
Sonoran Trails Middle School Middle Unknown NA

Sonoran Trails Middle School

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 39
9
GreatSchools Rating

Cactus Shadows High School

  • Education Level: High
  • # of students: 1,704
  • # of teachers: 70
8
GreatSchools Rating

Sonoran Trails Middle School

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

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,690$4,510$4,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,100
EXPENSES Loan Payment -$3,994
Property Tax -$537
Property Insurance -$92
HOA -$8
Property Management Fees -$99
CASH FLOW
-$630

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.

$1,150,000

PROJECTED PRICE

$4,100

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 1.7%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$23,607

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,100

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $4,049

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$3,9903$3,9954$4,1005$4,200
$4,200
RENT COMPS ANALYSIS
  • 24076 N 116th Way Scottsdale, AZ 4
    • 4 beds 4 baths ∙ 3,305 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,305 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.24
    •  
  • 11847 E Chama Road Scottsdale, AZ 1
    • 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1992
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.18
    •  
  • 11669 E Parkview Lane Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 3,094 Sqft ∙ Built 1996 3 beds 3 baths ∙ 3,094 Sqft ∙ Built 1996
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $1.29
    •  
  • 11934 E Sand Hills Road Scottsdale, AZ 3
    • 3 beds 4 baths ∙ 3,437 Sqft ∙ Built 1997 3 beds 4 baths ∙ 3,437 Sqft ∙ Built 1997
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.16
    •  
  • 24764 N 117th Street Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1992
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.27
    •  
PROPERTY LISTING DETAILS
Michael Johnson
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206813
Last Updated: 03/14/2021
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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