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6613 E Vernon Avenue Scottsdale, AZ 85257

5 Beds 5 Baths 2,292 sqft Built 1958

$714,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $311.91
  • 2 Days on Market
  • MLS # : 6154793
  • Updated Date : 11/07/2020 at 16:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,292 sqft
  • Baths : 5 full
Listing Agent

United Brokers Group

Listing Agent's Description

COMPLETELY RENOVATED, 4 bedroom / 4 bath home with a newly constructed DETACHED GUEST HOUSE and 2 car garage. The guest house features include a full kitchen, bathroom, flexible living space, charming patio and overlooks the pool area. Enjoy the oversized private corner lot that borders bike and running trails weaving throughout Scottsdale. Every element of space and design has been considered for this home. It flexes with today's changing needs by meeting the demands of multi-generational living, ideal separate office space to work remotely, affordable college living, privacy and comfort to out of town guests or as a rental home. The main home offers a split dual master bedroom setup and each guest bedroom is partnered with its own bathroom. Uniquely combining today's ...

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PRICE & RENT TRENDS

Neighborhood: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9352993

* 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
 

$643,410$786,390$714,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,638
Property Tax -$334
Property Insurance -$72
Property Management Fees -$99
CASH FLOW
-$643

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.

$714,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.8%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$195,199

INVESTMENT

$195,199

Down Payment
$178,725
Rehab Estimate
$5,750
Closing Costs
$10,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,725
Loan Amount $536,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,756

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
  • $3,495

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,720
$3,720
RENT COMPS ANALYSIS
  • 6613 E Vernon Avenue Scottsdale, AZ 1
    • 5 beds 5 baths ∙ 2,292 Sqft ∙ Built 1958 5 beds 5 baths ∙ 2,292 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6824 E Montecito Avenue Scottsdale, AZ 2
    • 4 beds 4 baths ∙ 2,574 Sqft ∙ Built 1958 4 beds 4 baths ∙ 2,574 Sqft ∙ Built 1958
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.36
    •  
  • 6737 E Lewis Avenue Scottsdale, AZ 3
    • 4 beds 4 baths ∙ 2,200 Sqft ∙ Built 1959 4 beds 4 baths ∙ 2,200 Sqft ∙ Built 1959
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $1.69
    •  
PROPERTY LISTING DETAILS
Lisa Gifford
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154793
Last Updated: 11/07/2020
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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