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6031 E Friess Drive Scottsdale, AZ 85254

4 Beds 3 Baths 2,513 sqft Built 1979

$815,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $324.31
  • 2 Days on Market
  • MLS # : 6190714
  • Updated Date : 02/06/2021 at 00:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,513 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

This is it! Arizona living at its finest! Come and see this gorgeous, highly updated/upgraded 4 Bedroom, 3 Bath home located in the coveted ''Magic Zip Code'' today! This North/South home is situated on just over 1/3 Acre and offers the best in indoor/outdoor living. Not a flip; this home has been loved and well-cared for, outfitted with quality designer finishes. New roof in 2014, 2 new energy efficient HVAC units in 2017! Dual pane windows throughout and wood-grained tile flooring in all the right places. Entertainer's Kitchen/Great Room includes both stained concrete kitchen counters and surrounding granite counters, loads of cabinet space, and stainless steel appliances, including a built-in oven and convection microwave oven. Formal dining and breakfast bar, beehive fireplace, and a

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 Middle School Middle Regular 906 34 9
Horizon High School High Regular 2,262 86 8
Desert Shadows Middle School Middle Unknown NA

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

Desert Shadows Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$733,500$896,500$815,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,831
Property Tax -$610
Property Insurance -$76
Property Management Fees -$99
CASH FLOW
-$616

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.

$815,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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$15k$20k

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$221,725

INVESTMENT

$221,725

Down Payment
$203,750
Rehab Estimate
$5,750
Closing Costs
$12,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,831

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $203,750
Loan Amount $611,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $3,085

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,845
1$2,8452$3,0003$3,0004$3,0005$3,500
$3,500
RENT COMPS ANALYSIS
  • 6031 E Friess Drive Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.19
    •  
  • 5709 E Gelding Drive Scottsdale, AZ 1
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1989
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,845
    • $1.22
    •  
  • 6153 E Hillery Drive Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 2,632 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,632 Sqft ∙ Built 1989
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.14
    •  
  • 6236 E Acoma Drive Scottsdale, AZ 3
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 1993
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
  • 13840 N 57th Way Scottsdale, AZ 5
    • 5 beds 3 baths ∙ 2,655 Sqft ∙ Built 1981 5 beds 3 baths ∙ 2,655 Sqft ∙ Built 1981
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.32
    •  
PROPERTY LISTING DETAILS
Adam Coburn
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190714
Last Updated: 02/06/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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