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2501 N 85th Place Scottsdale, AZ 85257

3 Beds 2 Baths 1,528 sqft Built 1960

$495,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $323.95
  • 2 Days on Market
  • MLS # : 6158667
  • Updated Date : 11/14/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,528 sqft
  • Baths : 2 full
Listing Agent

Venture Rei, Llc

Listing Agent's Description

Updated Hallcraft home in desirable South Scottsdale with No HOA. Home tastefully updated in 2018 to create an open, modern living space. Laminate floors, herring bone tile in bathrooms and upgraded carpet in the bedrooms. Full length covered front porch along with incredible sunset views, a private back yard with diving pool, full length covered patio, and storage shed. Kitchen updated with new cabinets, granite counters, glass tile backsplash and an Island. Bonus room with separate entrance that is currently a home Office/exercise area. Welcome Home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Estates Ten

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Scottsdale Estates Ten

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
Hohokam Traditional School Primary Regular 432 30 6
Coronado High School High Regular 1,039 61 2

Hohokam Traditional School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 30
6
GreatSchools Rating

Coronado High School

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

$445,500$544,500$495,000

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 -$1,826
Property Tax -$232
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$254

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.

$495,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,504

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,956

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9503$1,9504$1,9605$2,000
$2,000
RENT COMPS ANALYSIS
  • 2501 N 85th Place Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.28
    •  
  • 8716 E Oak Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1960
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.32
    •  
  • 8432 E Lewis Avenue Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1960
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.27
    •  
  • 2341 N 87th Way Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1971
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.33
    •  
  • 8649 E Roanoke Avenue Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1960
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.20
    •  
PROPERTY LISTING DETAILS
Eugene Quackenbush
Venture Rei, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158667
Last Updated: 11/14/2020
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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