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6565 E Thomas Road #1123 Scottsdale, AZ 85251

3 Beds 2 Baths 1,548 sqft Built 2016

$569,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $367.57
  • 4 Days on Market
  • MLS # : 6202078
  • Updated Date : 03/06/2021 at 02:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,548 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Luxurious Condo set in the quietest part of the community. As one of the rare end units, it boasts 3 separate Balconies. Open floor plan with over $60,000 in Builder Upgrades. Kitchen boasts Floor to Ceiling Custom Espresso Cabinetry, Subway Tile Backsplash, state of the art Stainless Steel Appliances, high end Granite Counter Tops and large Center Island. Upgrades include Tile & Ceiling Fans throughout, Wood Stair Treads, Plantation Shutters, newer A/C, & Plush Carpet. Master Suite has separate Shower & Soaking Tub with Subway Tile, dual Vanity Sinks and large Walk in Closet. Private hallway for the 2nd & 3rd bedrooms, in-unit full size Whirlpool Washer & Dryer. 2 car garage with interior access & extra space for bike storage. Located in the beautiful gated community of Diamante, just

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
Coronado High School High Regular 1,039 61 2
Coronado High School High Unknown NA

Coronado High School

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

Coronado High School

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

$512,100$625,900$569,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,976
Property Tax -$266
Property Insurance -$57
HOA -$240
Property Management Fees -$99
CASH FLOW
$21

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.

$569,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.47%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,976

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$34,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $2,659

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,590
1$2,5902$2,6503$2,6604$2,7505$2,795
$2,795
RENT COMPS ANALYSIS
  • 6565 E Thomas Road #1123 Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.72
    •  
  • 6565 E Thomas Road #1069 Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2017
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.65
    •  
  • 6565 E Thomas Road #1012 Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2015
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.69
    •  
  • 6565 E Thomas Road #1126 Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2017
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.75
    •  
  • 6565 E Thomas Road #1121 Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2016
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.78
    •  
PROPERTY LISTING DETAILS
Lukas Magnusson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202078
Last Updated: 03/06/2021
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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