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2802 N Granite Reef Road Scottsdale, AZ 85257

3 Beds 3 Baths 2,047 sqft Built 1959

$689,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $336.59
  • 2 Days on Market
  • MLS # : 6181793
  • Updated Date : 01/16/2021 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,047 sqft
  • Baths : 3 full
Listing Agent

Srl Group

Listing Agent's Description

SOUTH SCOTTSDALE FULL REMODEL JUST COMPLETED! 3BDRM/3 BATH, ALL NEW GOURMET KITCHEN, CUSTOM CABINETS, SLAB QUARTZ, ALL NEW APPLIANCES, WOOD TILE THRU OUT, LED CAN LIGHTING, LARGE NEW BATHROOMS, FORMAL DINING, LIVING ROOM , FAMILY ROOM. LARGE LAUNDRY ROOM. NEW A/C, BASEBOARDS AND DOORS. NEW HARDWARE AND FIXTURES. NEW SPARKLING POOL AND EQUIPMENT. NEW LANDSCAPING INCLUDES PAVERS FRONT AND BACKYARD, GREEN GRASS AND CITRUS TREES. ALL OF THIS IN THE HEART OF OLD TOWN SCOTTSDALE.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Indian Bend

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
 

$620,100$757,900$689,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,393
Property Tax -$322
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$291

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.

$689,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,393

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$21,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $3,163

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,590
1$2,5902$2,8003$2,9954$3,1505$3,500
$3,500
RENT COMPS ANALYSIS
  • 2802 N Granite Reef Road Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,047 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,047 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.27
    •  
  • 8117 E Lewis Avenue Scottsdale, AZ 2
    • 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1961
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.46
    •  
  • 3032 N 81st Place Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 1967
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.51
    •  
  • 2330 N Granite Reef Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1959
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.65
    •  
  • 3144 N 84th Place Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1967
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.56
    •  
PROPERTY LISTING DETAILS
Carrie Lehrman
Srl Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181793
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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