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4910 E Corrine Drive Scottsdale, AZ 85254

3 Beds 2 Baths 1,456 sqft Built 1976

INVESTimate

$450,000

List Price

$1,840

$1,656 - $2,024

Rent Est.

$479,160  ( +6.48%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $309.07
  • 2 Days on Market
  • MLS # : 6121428
  • Updated Date : 08/25/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

CHECK OUT THIS BEAUTY IN A GREAT LOCATION. REMODELED INTERIOR & EXTERIOR. MODERNIZED & OPEN FLOOR PLAN. A NON-PET, NON-SMOKING HOME. GIANT CUL-DE-SAC LOT, WITH ROOM TO EXPAND IF DESIRED. THE POOL IS ALMOST BRAND NEW (NOT JUST REMODELED). THE ROOF, WINDOWS, LANDSCAPING, HVAC ALL NEW IN 2013-14. PROFESSIONAL PHOTOS WILL BE IN MLS ON TUESDAY.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Paradise Valley 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
Desert Shadows Elementary School Primary Regular 501 33 8
Desert Shadows Middle School Middle Regular 906 34 9
Horizon High School High Regular 2,262 86 8

Desert Shadows Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 33
8
GreatSchools Rating

Desert Shadows Middle School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 34
9
GreatSchools Rating

Horizon High School

  • Education Level: High
  • # of students: 2,262
  • # of teachers: 86
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,660
Property Tax -$337
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$312

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.

$450,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.48%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,842

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8404$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 4910 E Corrine Drive Scottsdale, 3
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.26
    •  
  • 4449 E Willow Avenue Phoenix, 1
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1978
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.17
    •  
  • 13243 N 47th Place Phoenix, 2
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1980
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.18
    •  
  • 4910 E Bloomfield Road Scottsdale, 4
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.37
    •  
  • 12624 N 49th Way Scottsdale, 5
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1976
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.34
    •  
PROPERTY LISTING DETAILS
Christine A Farrar
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121428
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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