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2855 N 71st Street Scottsdale, AZ 85257

3 Beds 1 Baths 1,447 sqft Built 1954

INVESTimate

$279,900

List Price

$1,460

$1,314 - $1,606

Rent Est.

$303,971  ( +8.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $193.43
  • 5 Days on Market
  • MLS # : 6121155
  • Updated Date : 08/21/2020 at 21:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,447 sqft
  • Baths : 1 full
Listing Agent

Homesmart

Listing Agent's Description

AMAZING UPSIDE POTENTIAL! Don't let the existing structure scare you! Seller has plans for an AMAZING NEW BUILD!! It's ALL about LOCATION!! A bike ride away from Old Town, Fashion Square Mall, Dining and much more! Final product can be owner occupied, VRBO, Long Tern Rental or a perfect second home!List price is reflective of the current structure. not a new build.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cranbrooke Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $97k465k

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

Neighborhood: Cranbrooke Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28001000120014001600180020002200240026002800Rent in $7962993

* 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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,033
Property Tax -$131
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
$142

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.

$279,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.60%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$37,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4603$1,6354$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 2855 N 71st Street Scottsdale, 2
    • 3 beds 1 baths ∙ 1,447 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,447 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.01
    •  
  • 2647 N 71st Place Scottsdale, 1
    • 3 beds 1 baths ∙ 1,281 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,281 Sqft ∙ Built 1954
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.13
    •  
  • 2515 N 68th Street Scottsdale, 3
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1959
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $1.09
    •  
  • 6957 E Osborn Road #g Scottsdale, 4
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1965
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.16
    •  
  • 6911 E Edgemont Avenue Scottsdale, 5
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1957
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.05
    •  
PROPERTY LISTING DETAILS
Lizbeth Vazquez
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121155
Last Updated: 08/21/2020
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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