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PROPERTY INFO
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.
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PRICE & RENT TRENDS
Neighborhood: Scottsdale Casitas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Scottsdale Casitas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$75,313
LOAN DETAILS
$969
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $65,625 |
| Loan Amount | $196,875 |
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
-
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
Mynd Property Management
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6161832
Last Updated: 11/18/2020
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.
