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6502 E Palm Lane Scottsdale, AZ 85257

3 Beds 2 Baths 1,579 sqft Built 1965

$449,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $284.93
  • 5 Days on Market
  • MLS # : 6183306
  • Updated Date : 01/23/2021 at 16:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,579 sqft
  • Baths : 2 full
Listing Agent

J.s. Real Estate, Llc

Listing Agent's Description

Open House Today, Saturday 1/23/21, from 11-2! Absolute Bargain! Beautiful and spacious home with lovely views of the Papago Red Rocks! Location cannot be beat! Conveniently located near shopping, highways, Old Town Scottsdale, and Sky Harbor Airport! Huge living room, great kitchen & family room, with 3 bedrooms including a spacious master suite. Great private patio in back on extra large lot sitting on a cul de sac! Must see today before it's gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hy-view

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Hy-view

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
Tonalea K-8 School Primary Regular 341 26 3
Tonalea K-8 School Middle Regular 341 26 3
Coronado High School High Regular 1,039 61 2

Tonalea K-8 School

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 26
3
GreatSchools Rating

Tonalea K-8 School

  • Education Level: Middle
  • # of students: 341
  • # of teachers: 26
3
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,563
Property Tax -$210
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$20

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.

$449,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$26,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8953$1,9104$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 6502 E Palm Lane Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.21
    •  
  • 6512 E Palm Lane Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1971
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.16
    •  
  • 6402 E Holly Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1962
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.22
    •  
  • 6437 E Parkview Drive Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1962
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.24
    •  
  • 1845 N 64th Street Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1965
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.20
    •  
PROPERTY LISTING DETAILS
Patricia Crowley
J.s. Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183306
Last Updated: 01/23/2021
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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