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29119 N 71st Place Scottsdale, AZ 85266

5 Beds 4 Baths 4,046 sqft Built 2002

$1,395,000

List Price

$4,920

$4.7K - $5.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $344.78
  • 2 Days on Market
  • MLS # : 6200473
  • Updated Date : 03/06/2021 at 17:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,046 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Stunning remodeled North Scottsdale home. Open floor plan feels light and airy with wide plank french oak flooring and 15' ceilings throughout home. Gourmet kitchen features white shaker cabinets with contrasting black island, quartz counter tops, custom backsplash, and stainless appliances including 42'' built-in fridge. Family room off kitchen has a beautiful modern fireplace with black marble accent wall. Incredible owner's suite with access to covered patio and luxurious bath with dual sinks + make-up area vanity, freestanding tub, and steam shower with 2 heads and handheld. Secondary en-suite bed/bath is great for guests. 4 car garage with cabinets for extra storage. Backyard oasis with freshly remodeled heated pool and spa. Ample desert landscape throughout. A must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $122k811k

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

Neighborhood: Desert Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $10453919

* 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
Sonoran Trails Middle School Middle Regular 841 39 9
Cactus Shadows High School High Regular 1,704 70 8
Sonoran Trails Middle School Middle Unknown NA

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

Sonoran Trails Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$1,255,500$1,534,500$1,395,000

PURCHASE PRICE

$4,428$5,412$4,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,920
EXPENSES Loan Payment -$4,845
Property Tax -$651
Property Insurance -$106
HOA -$36
Property Management Fees -$99
CASH FLOW
-$817

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$1,395,000

PROJECTED PRICE

$4,920

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$375,425

INVESTMENT

$375,425

Down Payment
$348,750
Rehab Estimate
$5,750
Closing Costs
$20,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,845

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $348,750
Loan Amount $1,046,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$25,440

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
  • $5,179

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,3003$5,5004$5,500
$5,500
RENT COMPS ANALYSIS
  • 29119 N 71st Place Scottsdale, AZ 1
    • 5 beds 4 baths ∙ 4,046 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,046 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6462 E Oberlin Way Scottsdale, AZ 2
    • 4 beds 5 baths ∙ 4,287 Sqft ∙ Built 2002 4 beds 5 baths ∙ 4,287 Sqft ∙ Built 2002
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $1.24
    •  
  • 5914 E Dale Lane Cave Creek, AZ 3
    • 4 beds 4 baths ∙ 4,185 Sqft ∙ Built 1993 4 beds 4 baths ∙ 4,185 Sqft ∙ Built 1993
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $1.31
    •  
  • 7214 E Alta Sierra Drive Scottsdale, AZ 4
    • 5 beds 5 baths ∙ 4,276 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,276 Sqft ∙ Built 2003
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $1.29
    •  
PROPERTY LISTING DETAILS
Michael J. Misheski
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200473
Last Updated: 03/06/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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