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6932 E Oak Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,645 sqft Built 1959

$449,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $272.95
  • 2 Days on Market
  • MLS # : 6163420
  • Updated Date : 11/20/2020 at 22:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,645 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Beautifully kept home on a large lot in the perfectly located Melrose Village. Three bedrooms plus a large bonus game room with separate AC control. Spacious functional feel with large living room exits to bonus room and pool area.Upgrades include updated kitchen with plentiful cabinetry, dual pane windows, AC/ heat new in 2011. Lovingly maintained and meticulously cared for by long time owners. Large lot with low maintenance landscaping, huge pool and two car garage. Proximity to Old Town Scottsdale, healthcare, shopping, restaurants and downtown amenities is exceptional. Minutes to the 101 or 202, Sky Harbor Airport, Desert Botanical Gardens, Phoenix Zoo and Papago hiking and mountain biking trails. Don't miss this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Melrose Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Melrose Village

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
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,657
Property Tax -$210
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$125

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.

$449,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.42%

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$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

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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$23,195

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
  • $1,892

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,7754$1,9755$1,995
$1,995
RENT COMPS ANALYSIS
  • 6932 E Oak Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2316 N 72nd Place Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.16
    •  
  • 6801 E Vernon Avenue Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1959
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.12
    •  
  • 2227 N 71st Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1956
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.14
    •  
  • 6901 E Palm Lane Scottsdale, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Joe Kertesz
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163420
Last Updated: 11/20/2020
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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