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6880 E Lyra Drive Scottsdale, AZ 85257

3 Beds 3 Baths 2,628 sqft Built 2018

$739,900

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $281.54
  • 5 Days on Market
  • MLS # : 6175707
  • Updated Date : 12/31/2020 at 14:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,628 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes & Gardens Real Estate Move Time Realty

Listing Agent's Description

Welcome to, SKYE30. This home has been lovingly filled with beautiful high quality fixtures and finishes that would normally be found in the most sophisticated properties in New York, San Francisco or Miami. Luxury and Style exude from SKYE30. The fun begins with the entrance to the private, gated community of Skye. A community of all Single Family Detached homes, these are not townhouses. The meticulously maintained pool / spa / Bbq pavilion beckons you to relax with friends and family. Skye30 exudes sophistication, quality and a calm, cool contemporary feel. Built by K. Hovnanian this Tempo Expanded Model has 2,628 sq. ft. (living) plus about 1,000 sq. ft. Roof Top View Deck.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10182993

* 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
 

$665,910$813,890$739,900

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$2,730
Property Tax -$366
Property Insurance -$78
HOA -$169
Property Management Fees -$99
CASH FLOW
$188

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.

$739,900

PROJECTED PRICE

$3,630

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$75,230

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
  • $3,988

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,5004$3,7955$3,995
$3,995
RENT COMPS ANALYSIS
  • 6880 E Lyra Drive Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6842 E Orion Drive Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2018
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.44
    •  
  • 7059 E Portland Street Scottsdale, AZ 3
    • 4 beds 4 baths ∙ 2,436 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,436 Sqft ∙ Built 2020
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.44
    •  
  • 1015 N 70th Way Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2020
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.59
    •  
  • 1024 N 70th Place Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2020
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.60
    •  
PROPERTY LISTING DETAILS
Scott Lehmann
Better Homes & Gardens Real Estate Move Time Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175707
Last Updated: 12/31/2020
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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