Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6222 E Karen Drive Scottsdale, AZ 85254

4 Beds 2 Baths 2,074 sqft Built 1981

$629,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1981
  • Price/Sqft : $303.71
  • 11 Days on Market
  • MLS # : 6151469
  • Updated Date : 10/28/2020 at 17:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,074 sqft
  • Baths : 2 full
Listing Agent

Epic Home Realty

Listing Agent's Description

A truly stunning 4-bed, 2-bath, 3-car garage, and a sparkling blue pool home situated in North Scottsdale and only a short distance from Kierland Commons and the Scottsdale Quarter offering shopping and top notch restaurants. Immerse yourself with a bright home, boasting custom LED kitchen and Great Room lighting that can be changed to fit your mood. Home features a light ceramic wood tile planks throughout home including the kitchen & great room, living room, hallways, guest bathroom and spare bedrooms. Master bedroom offers a beautiful white ceramic tile to complement a master class bathroom featuring marble jacuzzi bathtub with embedded lighting, a spacious shower adorned with intricate marble tile and oversized shower. Kitchen features Quartz waterfall countertop island and backsplash.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greenbriar East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Greenbriar East

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 Springs Preparatory Elementary School Primary Regular 461 33 7
Desert Shadows Middle School Middle Regular 906 34 9
Horizon High School High Regular 2,262 86 8

Desert Springs Preparatory Elementary School

  • Education Level: Primary
  • # of students: 461
  • # of teachers: 33
7
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
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,324
Property Tax -$471
Property Insurance -$68
Property Management Fees -$99
CASH FLOW
-$562

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.

$629,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,608

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3953$2,4004$2,6955$2,995
$2,995
RENT COMPS ANALYSIS
  • 6222 E Karen Drive Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.16
    •  
  • 6016 E Beck Lane Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 1984
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.14
    •  
  • 6769 E Paradise Lane Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1994
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.20
    •  
  • 14034 N 60th Street Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 2,101 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,101 Sqft ∙ Built 1983
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.28
    •  
  • 5801 E Marconi Avenue Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1985
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.41
    •  
PROPERTY LISTING DETAILS
Fady Abuhmaidan
Epic Home Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6151469
Last Updated: 10/28/2020
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.

BESbswy