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5409 E Corrine Drive Scottsdale, AZ 85254

5 Beds 4 Baths 3,128 sqft Built 1977

$1,050,000

List Price

$4,420

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $335.68
  • 3 Days on Market
  • MLS # : 6156840
  • Updated Date : 01/02/2021 at 22:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,128 sqft
  • Baths : 3 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

This is the ONE! Recently remodeled throughout and ready for new owners. This standout single level home with no steps is on a generous lot in the desirable magic zip code (85254). Brilliant architecture featuring a split floor plan with special attention to sight lines, room placement, traffic patterns, widows and lighting will not disappoint. Everything you want and more with the open concept that incorporates the kitchen, living and dining areas in one space that flows effortlessly through an accordion door for indoor/outdoor living at its finest. There is a spacious bonus room that makes a fun game/media room for adults. The office boasts a barn door for privacy. The owner's suite is split with an incredible spa like bath and custom walk-in closet. Guests will love the Junior

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Saguaro

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k528k

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

Neighborhood: Rancho Saguaro

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
 

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$3,978$4,862$4,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,420
EXPENSES Loan Payment -$3,874
Property Tax -$786
Property Insurance -$88
Property Management Fees -$99
CASH FLOW
-$427

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.

$1,050,000

PROJECTED PRICE

$4,420

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$35,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $4,598

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2003$4,5004$4,7505$5,000
$5,000
RENT COMPS ANALYSIS
  • 5409 E Corrine Drive Scottsdale, AZ 1
    • 5 beds 4 baths ∙ 3,128 Sqft ∙ Built 1977 5 beds 4 baths ∙ 3,128 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5036 E Yucca Street Scottsdale, AZ 2
    • 5 beds 3 baths ∙ 2,980 Sqft ∙ Built 1979 5 beds 3 baths ∙ 2,980 Sqft ∙ Built 1979
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.41
    •  
  • 5739 E Cactus Road Scottsdale, AZ 3
    • 5 beds 3 baths ∙ 3,198 Sqft ∙ Built 1979 5 beds 3 baths ∙ 3,198 Sqft ∙ Built 1979
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.41
    •  
  • 12202 N 60th Street Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1978 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1978
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $1.58
    •  
  • 5729 E Windrose Drive Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 1977 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 1977
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $1.48
    •  
PROPERTY LISTING DETAILS
Cindy Metz
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156840
Last Updated: 01/02/2021
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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