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3014 N 61st Place Scottsdale, AZ 85251

5 Beds 5 Baths 4,400 sqft Built 1970

$955,000

List Price

$5,270

$5K - $5.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $217.05
  • 3 Days on Market
  • MLS # : 6206285
  • Updated Date : 03/14/2021 at 00:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,400 sqft
  • Baths : 4 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

House is under construction. Plans call for: Wood Floors, Granite tops, and Smart Home Features. Front and Side Custom Doors are in hand, Complete Viking Kitchen Suite is also Purchased and in Storage. Permits and Inspections are complete for new plumbing including mains, and new electrical throughout. Ready for new buyer to complete and add finishes.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arcadia

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $122k751k

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

Neighborhood: Arcadia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10453130

* 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
Tavan Elementary School Primary Regular 718 43 5
Ingleside Middle School Middle Regular 772 33 7
Arcadia High School High Regular 1,731 72 5

Tavan Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 43
5
GreatSchools Rating

Ingleside Middle School

  • Education Level: Middle
  • # of students: 772
  • # of teachers: 33
7
GreatSchools Rating

Arcadia High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 72
5
GreatSchools Rating
 

$859,500$1,050,500$955,000

PURCHASE PRICE

$4,743$5,797$5,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,270
EXPENSES Loan Payment -$3,317
Property Tax -$447
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$1,294

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.

$955,000

PROJECTED PRICE

$5,270

PROJECTED RENT

0.55%

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

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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$258,825

INVESTMENT

$258,825

Down Payment
$238,750
Rehab Estimate
$5,750
Closing Costs
$14,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $238,750
Loan Amount $716,250
See What Happens When You Reinvest Cash Flow

12.42

YEARS SAVED

$188,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,270

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $6,468

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$5,000
1$5,0002$5,2703$8,900
$8,900
RENT COMPS ANALYSIS
  • 3014 N 61st Place Scottsdale, AZ 2
    • 5 beds 5 baths ∙ 4,400 Sqft ∙ Built 1970 5 beds 5 baths ∙ 4,400 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,270
    • $1.20
    •  
  • 4210 N 68th Place Scottsdale, AZ 1
    • 4 beds 4 baths ∙ 4,745 Sqft ∙ Built 1956 4 beds 4 baths ∙ 4,745 Sqft ∙ Built 1956
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $1.05
    •  
  • 4412 N 56th Street Phoenix, AZ 3
    • 4 beds 4 baths ∙ 4,700 Sqft ∙ Built 1960 4 beds 4 baths ∙ 4,700 Sqft ∙ Built 1960
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $8,900
    • $1.89
    •  
PROPERTY LISTING DETAILS
Alfred Williams
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206285
Last Updated: 03/14/2021
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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