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525 N Miller Road #144 Scottsdale, AZ 85257

2 Beds 2 Baths 1,112 sqft Built 2005

$262,500

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $236.06
  • 5 Days on Market
  • MLS # : 6161832
  • Updated Date : 11/18/2020 at 09:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,112 sqft
  • Baths : 2 full
Listing Agent

Mynd Property Management

Listing Agent's Description

Desirable Scottsdale community, borders Tempe near Tempe Marketplace, old town Scottsdale, dining, entertainment and more! Close to the trolley line for easy commuting. Close to the 101 and 202. This condo in a gated community has new carpet in both bedrooms with tile in remainder of the home. Kitchen with smooth top stove, microwave and plenty of cabinets. Separate dining area and living room. Community pool for hot summer days! AC unit replaced in the last year.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Casitas

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $83k465k

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

Neighborhood: Scottsdale Casitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8622993

* 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
Yavapai Elementary School Primary Regular 421 26 4
Coronado High School High Regular 1,039 61 2

Yavapai Elementary School

  • Education Level: Primary
  • # of students: 421
  • # of teachers: 26
4
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$236,250$288,750$262,500

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$969
Property Tax -$123
Property Insurance -$49
HOA -$170
Property Management Fees -$99
CASH FLOW
$111

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.

$262,500

PROJECTED PRICE

$1,520

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,313

INVESTMENT

$75,313

Down Payment
$65,625
Rehab Estimate
$5,750
Closing Costs
$3,938

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$969

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,625
Loan Amount $196,875
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$28,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $1,515

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4983$1,5204$1,5255$1,600
$1,600
RENT COMPS ANALYSIS
  • 525 N Miller Road #144 Scottsdale, AZ 3
    • 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.37
    •  
  • 525 N Miller Road #123 Scottsdale, AZ 1
    • 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.26
    •  
  • 1314 E Susan Lane Tempe, AZ 2
    • 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1985
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,498
    • $1.38
    •  
  • 525 N Miller Road #117 Scottsdale, AZ 4
    • 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.37
    •  
  • 525 N Miller Road #135 Scottsdale, AZ 5
    • 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 2005
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.44
    •  
PROPERTY LISTING DETAILS
Alicia Calano
Mynd Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161832
Last Updated: 11/18/2020
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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