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6614 E Moreland Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,350 sqft Built 1959

$499,999

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $370.37
  • 5 Days on Market
  • MLS # : 6174191
  • Updated Date : 12/26/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Must See!! This beautifully updated 3 bedroom home with newer roof, updated wood-look tile flooring throughout, a great open floor plan with tons of natural light! The kitchen is huge! It offers tons of storage and features modern white cabinetry, granite countertops, mosaic tile backsplash, updated hardware, large island with breakfast bar seating, stainless steel appliances and access to the backyard through the newer sliding glass door. Both bathrooms have been updated with custom tile showers and the bedrooms are sizable with the master suite featuring private access to the backyard. The backyard is great for entertaining! Featuring an oversized covered travertine patio, artificial turf built-in BBQ with sink mini fridge space, and a sleek sparkling pool to cool off in the summer.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9912993

* 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
 

$449,999$549,999$499,999

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,845
Property Tax -$234
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$531

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.

$499,999

PROJECTED PRICE

$1,700

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6253$1,7004$1,9505$2,025
$2,025
RENT COMPS ANALYSIS
  • 6614 E Moreland Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.26
    •  
  • 6813 E Latham Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1959
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 6743 E Latham Street Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 1960
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.10
    •  
  • 6713 E Latham Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
  • 36 E Fillmore Street Tempe, AZ 5
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1959
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $1.49
    •  
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 #: 6174191
Last Updated: 12/26/2020
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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