Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

26893 N 116th Way Scottsdale, AZ 85262

4 Beds 5 Baths 4,201 sqft Built 2002

INVESTimate

$1,200,000

List Price

$6,080

$5,830 - $6,330

Rent Est.

$1,206,360  ( +0.53%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $285.65
  • 1 Days on Market
  • MLS # : 6122599
  • Updated Date : 08/25/2020 at 21:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,201 sqft
  • Baths : 4 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Beautiful custom home with panoramic mountain views and complete privacy on 1.5 acres in the gated community of Desert Summit. Original owners showcase pride of ownership in a single level home without any interior steps. The great room design includes a formal dining room with built-in cabinets, gourmet kitchen with large island, breakfast room, game room, owners suite, 3 guest bedrooms with all on-suite baths, laundry room and 3+ car garage. The exterior features include a large front courtyard with exterior fireplace, garden area with raised beds, covered back patio, fire pit, built-in BBQ and large entertaining areas that take advantage of vistas of Four Peaks. For those wanting a pool, the property allows for easy equipment access and plenty of options to locate the perfect pool.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Summit

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $122k957k

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

Neighborhood: Desert Summit

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10454749

* 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
Desert Sun Elementary School Primary Regular 416 22 6
Sonoran Trails Middle School Middle Regular 841 39 9
Cactus Shadows High School High Regular 1,704 70 8

Desert Sun Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 22
6
GreatSchools Rating

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
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$5,472$6,688$6,080

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k$60k$70k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,080
EXPENSES Loan Payment -$4,427
Property Tax -$693
Property Insurance -$109
HOA -$100
Property Management Fees -$99
CASH FLOW
$652

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$1,200,000

PROJECTED PRICE

$6,080

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 0.53%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$4,427

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$152,773

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
  • $8,066

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$6,7003$8,900
$8,900
RENT COMPS ANALYSIS
  • 26893 N 116th Way Scottsdale, 1
    • 4 beds 5 baths ∙ 4,201 Sqft ∙ Built 2002 4 beds 5 baths ∙ 4,201 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 27122 N 112th Place Scottsdale, 2
    • 3 beds 4 baths ∙ 4,288 Sqft ∙ Built 2010 3 beds 4 baths ∙ 4,288 Sqft ∙ Built 2010
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $6,700
    • $1.56
    •  
  • 10641 E Monument Drive Scottsdale, 3
    • 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2006
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,900
    • $2.28
    •  
PROPERTY LISTING DETAILS
Brian D Miller
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122599
Last Updated: 08/25/2020
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.

BESbswy