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2416 N 70th Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,660 sqft Built 1958

$579,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $349.34
  • 3 Days on Market
  • MLS # : 6167795
  • Updated Date : 12/04/2020 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

GORGEOUS COMPLETE REMODEL in the desirable zip code of 85257! 3BR/2BA & over 1,600 SF welcomes designer details throughout! Entertain in the spacious family room or CHEF'S KITCHEN boasting stylish gray cabinets, stainless steel appliances, gas chef's stove, & upgraded waterfall island w/ wine fridge. Additional space in the kitchen creates the perfect dining opportunity. Getaway to the master suite, offering beautiful marble-tiled shower. Resort-style backyard features oversized covered patio & slab and a sparkling pool! Less than 5 minutes to Loop 101 FWY, less than 10 minutes to Scottsdale Fashion Square & Old Town. Less than 15 minutes to Arizona State University & Sky Harbor Airport... Simply stunning!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Melrose Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Melrose Village

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
Tonalea K-8 School Primary Regular 341 26 3
Tonalea K-8 School Middle Regular 341 26 3
Coronado High School High Regular 1,039 61 2

Tonalea K-8 School

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 26
3
GreatSchools Rating

Tonalea K-8 School

  • Education Level: Middle
  • # of students: 341
  • # of teachers: 26
3
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$521,910$637,890$579,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$2,140
Property Tax -$271
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$609

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.

$579,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,531

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
  • $1,975

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,7754$1,9755$2,400
$2,400
RENT COMPS ANALYSIS
  • 2416 N 70th Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2316 N 72nd Place Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.16
    •  
  • 6801 E Vernon Avenue Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1959
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.12
    •  
  • 2227 N 71st Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1956
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.14
    •  
  • 2427 N 68th Street Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.34
    •  
PROPERTY LISTING DETAILS
Mark Captain
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167795
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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