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6332 N Granite Reef Road Scottsdale, AZ 85250

3 Beds 2 Baths 1,380 sqft Built 1967

$545,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $394.93
  • 1 Days on Market
  • MLS # : 6182164
  • Updated Date : 01/17/2021 at 04:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Delex Realty

Listing Agent's Description

LOCATION, LOCATION, LOCATION. NO HOA. HIGHLY DESIRED AREA. LOCATED NEAR SCOTTSDALE COMM COLLEGE. TO THE SOUTH. NEAR TALKING STICK CASINO AND HOTEL TO THE NORTH. GREAT SHOPPING AREAS NEARBY AND OUTSTANDING EATING VENUES. BEAUTIFUL WALKING PARK 2+-MILES AWAY. PERFECT FAMILY ORIENTED NEIGHBORHOOD. BRAND NEW KITCHEN WITH RECESSED LIGHTING, NEW STAINLESS STEEL APPLIANCES. NEW 12X14 TILE INSTALLED THROUGHOUT THE HOUSE EXCEPT FOR THE BEDROOMS. TOO MANY AMENIETIES TO LIST. BRING INTERESTED BUYERS. THIS ONE WILL NOT LAST.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10182993

* 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
Pueblo Elementary School Primary Regular 492 28 9
Mohave Middle School Middle Regular 816 48 7
Saguaro High School High Regular 1,316 63 7

Pueblo Elementary School

  • Education Level: Primary
  • # of students: 492
  • # of teachers: 28
9
GreatSchools Rating

Mohave Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 48
7
GreatSchools Rating

Saguaro High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 63
7
GreatSchools Rating
 

$490,500$599,500$545,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,893
Property Tax -$255
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$271

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$545,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

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$150,175

INVESTMENT

$150,175

Down Payment
$136,250
Rehab Estimate
$5,750
Closing Costs
$8,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,893

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,250
Loan Amount $408,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,025

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$2,0003$2,0304$2,0355$2,400
$2,400
RENT COMPS ANALYSIS
  • 6332 N Granite Reef Road Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.47
    •  
  • 8213 E Rose Lane Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.24
    •  
  • 8235 E Rose Lane Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.48
    •  
  • 8243 E Redwing Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1967
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,035
    • $1.47
    •  
  • 8428 E Malcomb Drive Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1979
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.68
    •  
PROPERTY LISTING DETAILS
Francisca Alvarez
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182164
Last Updated: 01/17/2021
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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