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3608 N 68th Street Scottsdale, AZ 85251

3 Beds 2 Baths 1,200 sqft Built 1958

$650,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $541.67
  • 24 Days on Market
  • MLS # : 6156470
  • Updated Date : 11/27/2020 at 13:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Launch Real Estate

Listing Agent's Description

Welcome home to this updated Scottsdale Ranch home in the Southwest Village area of Scottsdale. This 3 bedroom/2 bath open concept floor plan is ideal for a lock and leave, vacation home, or set up as a VRBO. Backyard is fully landscaped and includes a lap pool and hot tub, along with full misting system and outdoor tv under a large covered patio. This is a must see and is priced to sell!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Southwest Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Southwest Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10452993

* 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
 

$585,000$715,000$650,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$2,398
Property Tax -$304
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$862

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.

$650,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.31%

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

PROJECTED ANNUAL CASH FLOW

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

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,9903$2,1504$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 3608 N 68th Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.66
    •  
  • 3115 N 69th Place #1 Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1962
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.52
    •  
  • 6919 E Cheery Lynn Road Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1957
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.55
    •  
  • 3519 N 62nd Place Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1957
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.64
    •  
  • 6545 E 5th Street Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,113 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,113 Sqft ∙ Built 1955
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.98
    •  
PROPERTY LISTING DETAILS
Wendy Lentz
Launch Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156470
Last Updated: 11/27/2020
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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