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6802 E Friess Drive Scottsdale, AZ 85254

3 Beds 2 Baths 1,844 sqft Built 1977

$549,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $297.72
  • 2 Days on Market
  • MLS # : 6163556
  • Updated Date : 11/21/2020 at 11:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,844 sqft
  • Baths : 2 full
Listing Agent

Corcoran Platinum Living

Listing Agent's Description

This Sonoran territorial is fresh and ready for it's new owner. Inside this home has fresh paint, updated designer lighting, band new flooring, blinds and much more. Open and inviting living spaces. A cozy kitchen has bright white cabinetry, a breakfast bar and stainless/black appliances. Sunny breakfast room and chandelier-lit formal dining room. Striking beamed family room. Lovely master with walk-in closet, exit to the yard. THE YARD! Big quarter ACRE corner lot has pristine updated front landscape. Covered dining patio and a gorgeous remodeled pool with a peaceful fountain. Preferred north/south exposure. Great location minutes to everything you need!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paradise Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Paradise Valley Village

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
Sandpiper Elementary School Primary Regular 479 28 7
Desert Shadows Middle School Middle Regular 906 34 9
Horizon High School High Regular 2,262 86 8

Sandpiper Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 28
7
GreatSchools Rating

Desert Shadows Middle School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 34
9
GreatSchools Rating

Horizon High School

  • Education Level: High
  • # of students: 2,262
  • # of teachers: 86
8
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,026
Property Tax -$411
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$198

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.

$549,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,632

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$2,325
1$2,3252$2,4003$2,4994$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 6802 E Friess Drive Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.30
    •  
  • 6730 E Sweetwater Avenue Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1969
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.30
    •  
  • 7011 E Redfield Road Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1979
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.35
    •  
  • 6776 E Evans Drive Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1996
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.56
    •  
  • 6721 E Sharon Drive Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1976
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.50
    •  
PROPERTY LISTING DETAILS
Lindsay Rusk
Corcoran Platinum Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163556
Last Updated: 11/21/2020
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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