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6307 E Kings Avenue Scottsdale, AZ 85254

4 Beds 2 Baths 2,744 sqft Built 1984

$699,900

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $255.07
  • 3 Days on Market
  • MLS # : 6163014
  • Updated Date : 11/21/2020 at 10:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,744 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful, centrally located Scottsdale home. Enjoy the Arizona weather from your resort style backyard with a private pool, ramada, extended covered patio with ceiling fans, built-in grill and outdoor fireplace, grass, and mature landscaping. Entertain easily with a bar area with kitchen access. Interior stone fireplace in your formal sitting area, with a separate stone fireplace in the family area. Kitchen with granite counters, stainless steel appliances, and island. Bathrooms upgraded with tile showers, and granite counters. Exquisite master suite with double sinks, walk-in shower, separate soaking tub and private exit to the backyard. Neutral paint and flooring throughout.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k544k

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

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10453096

* 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
North Ranch Elementary School Primary Regular 512 31 9
Desert Shadows Middle School Middle Regular 906 34 9
Horizon High School High Regular 2,262 86 8

North Ranch Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 31
9
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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$2,582
Property Tax -$524
Property Insurance -$81
Property Management Fees -$99
CASH FLOW
-$76

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.

$699,900

PROJECTED PRICE

$3,210

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.0%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$40,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $3,457

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2103$3,2504$3,5505$3,845
$3,845
RENT COMPS ANALYSIS
  • 6307 E Kings Avenue Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $1.17
    •  
  • 16831 N 62 Place Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1996
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.21
    •  
  • 6009 E Phelps Road Scottsdale, AZ 3
    • 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1994
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.17
    •  
  • 16229 N 61st Place Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1985
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.30
    •  
  • 5676 E Sandra Terrace Scottsdale, AZ 5
    • 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 1991 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 1991
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,845
    • $1.36
    •  
PROPERTY LISTING DETAILS
Phillip Shaver
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163014
Last Updated: 11/21/2020
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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