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6565 E Thomas Road #1142 Scottsdale, AZ 85251

3 Beds 2 Baths 1,569 sqft Built 2016

$493,900

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $314.79
  • 6 Days on Market
  • MLS # : 6168952
  • Updated Date : 12/09/2020 at 17:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,569 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Step inside of this loft-style 3 bedroom, 2 bathroom home just minutes from Old Town Scottsdale. The interior flaunts fresh paint, hardwood floors, an open layout, and modern fixtures throughout! In the island kitchen, you'll enjoy stainless steel appliances and gorgeous cabinetry. The primary suite offers a private bathroom with double vanity sinks, a separate shower and tub, plus a huge walk-in closet. This condo has an attached 2-car garage and is located in a community with resort-like pools, hot tubs, and barbeques. Wonderfully situated near Scottsdale entertainment, Phoenix Sky Harbor Airport, and Camelback Mountain, this home is a must-see!

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
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
 

$444,510$543,290$493,900

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,822
Property Tax -$231
Property Insurance -$58
HOA -$242
Property Management Fees -$99
CASH FLOW
$108

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.

$493,900

PROJECTED PRICE

$2,560

PROJECTED RENT

0.52%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,634

INVESTMENT

$136,634

Down Payment
$123,475
Rehab Estimate
$5,750
Closing Costs
$7,409

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,822

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,475
Loan Amount $370,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$46,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,557

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3453$2,5004$2,6505$2,750
$2,750
RENT COMPS ANALYSIS
  • 6565 E Thomas Road #1142 Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6565 E Thomas Road #a1003 Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2015
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $1.49
    •  
  • 6565 E Thomas Road #1005 Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2015
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.59
    •  
  • 6565 E Thomas Road #1012 Scottsdale, AZ 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168952
Last Updated: 12/09/2020
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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