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6643 E Granada Road Scottsdale, AZ 85257

3 Beds 2 Baths 1,733 sqft Built 1957

$450,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $259.67
  • 2 Days on Market
  • MLS # : 6194029
  • Updated Date : 02/13/2021 at 22:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,733 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Professional photos coming! PRIME SCOTTSDALE LOCATION! This Mid-Century GEM in the Village Grove Historic District has been beautifully preserved by Original Owner & located in one of the HOTTEST locations! As you enter the kitchen, notice the AMAZING Vintage Stove and Copper Hood Vent. Property Updates Include - Plumbing replaced with Copper, Attic Insulation added, Sewer Line replaced, Trane HVAC, Exterior painted 2015, Roof replaced in 2017. See Docs Tab for FULL LIST. Close to hiking/walking/biking paths, mere minutes to Papago Park, Phoenix Zoo, golf courses, Scottsdale Fashion Square, Waterfront, Old Town Scottsdale, shops, galleries, fine dining, sporting events, Talking Stick, Top Golf, SkySong, ASU, Loop 101, 202 & 143, 51 Freeways, Phx Sky Harbor Airport & more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Village Grove West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Village Grove West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10452993

* 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,563
Property Tax -$213
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$244

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$450,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 10.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$50,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,201

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,0004$2,1805$2,750
$2,750
RENT COMPS ANALYSIS
  • 6643 E Granada Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.26
    •  
  • 6901 E Palm Lane Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1957
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.18
    •  
  • 6437 E Parkview Drive Scottsdale, AZ 2
    • 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 3
    • 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
    •  
  • 6714 E Holly Street Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1958
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.46
    •  
PROPERTY LISTING DETAILS
Bonnie Ellery
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194029
Last Updated: 02/13/2021
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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