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3420 N 62nd Place Scottsdale, AZ 85251

4 Beds 3 Baths 1,830 sqft Built 1957

INVESTimate

$679,000

List Price

$2,340

$2,106 - $2,574

Rent Est.

$733,320  ( +8.00%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $371.04
  • 2 Days on Market
  • MLS # : 6119593
  • Updated Date : 08/25/2020 at 10:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,830 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Fully remodeled 4 bed, 3 bath home w/ dual master bedrooms, an entertainer's backyard featuring pebble-tech pool, covered patio w/ misters, firepit & bocce court. This Arizona Country Club neighborhood home was extensively updated in 2017 & current owner has added another $50k+ in upgrades since then, including but not limited to new AC, smart home features (fridge, Nest thermostat/camera, Brinks security system), tankless gas water heater, walk in master closet w/ vanity, pantry, mature landscaping, upgraded lighting, dimmers & more! Previous owner's remodel included new tile flooring, bathrooms, kitchen, roof, windows, pavers & more. Walking distance to the canal trail, AZCC, Old Town, etc. You won't find this many upgrades in the area for less than $700k, seller expects multiple offers.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Country Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Country Estates

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
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
 

$611,100$746,900$679,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,505
Property Tax -$318
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$645

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.

$679,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,493

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,340
1$2,3402$2,4003$2,4004$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 3420 N 62nd Place Scottsdale, 1
    • 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.28
    •  
  • 6708 E 3rd Street Scottsdale, 2
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1954
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.34
    •  
  • 6550 E Osborn Road Scottsdale, 3
    • 4 beds 3 baths ∙ 1,833 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,833 Sqft ∙ Built 1955
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.31
    •  
  • 6622 E 1st Street Scottsdale, 4
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1955
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.40
    •  
  • 11 Spur Circle Scottsdale, 5
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1968
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.40
    •  
PROPERTY LISTING DETAILS
Josh Wein
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119593
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.

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