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6744 E Vernon Avenue Scottsdale, AZ 85257

3 Beds 2 Baths 1,134 sqft Built 1959

$425,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $374.78
  • 2 Days on Market
  • MLS # : 6157581
  • Updated Date : 11/07/2020 at 14:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent

Ventana Fine Properties

Listing Agent's Description

This. crafty, artsy home, is unique in many ways. From the moment you enter, you will discover the home IS a piece of art with the many interesting finishes. The sage epoxy floor and the combination living and dining space have a contemporary flair. A 3 bedroom, 2 bath home built in the 50's and more recently updated. An immaculate kitchen w/glass front cabinet doors, & cooktop/range. Ceramic tile in kitchen, hall, dining & baths. Updated fixtures and vanities. Large laundry room & 2 car garage w/opener. All this, plus a huge back yard w/mature trees and RV gate to alley. Located in the heart of South Scottsdale, a perfect location for the WMO, Spring Training, Golf, etc. Close to all the exciting downtown attractions including restaurants, nightlife and entertainment. It is gem!

SEE MORE

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,568
Property Tax -$199
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$285

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.

$425,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.38%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,954

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
  • $1,707

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6004$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 6744 E Vernon Avenue Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3115 N 69th Place #1 Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1962
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.52
    •  
  • 2638 N 71st Place Scottsdale, AZ 3
    • 3 beds 1 baths ∙ 980 Sqft ∙ Built 1954 3 beds 1 baths ∙ 980 Sqft ∙ Built 1954
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.63
    •  
  • 2831 N 71st Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 1954
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.45
    •  
  • 6845 E Avalon Drive Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1957
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
PROPERTY LISTING DETAILS
Christina Catalano
Ventana Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157581
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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