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6940 E Cochise Road E #1024 Paradise Valley, AZ 85253

3 Beds 3 Baths 1,937 sqft Built 2008

$437,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $225.61
  • 2 Days on Market
  • MLS # : 6180759
  • Updated Date : 01/16/2021 at 19:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,937 sqft
  • Baths : 3 full
Listing Agent

Dpr Realty Llc

Listing Agent's Description

Hard to find 3 bedroom, 3 bathroom, 2 car attached garage townhouse in exclusive 44 unit gated community. Tastefully updated and incredibly clean, this is not a fix and flip, but well appointed and impeccably maintained. Features a chef's kitchen with stainless appliances and Bosch dishwasher, walk-in pantry, large island and adjacent dining that opens to huge living area. All bedrooms are en-suite. Views of McDowell Mtns from 2 of the 4 patios. Community pool/spa always heated. Includes water softener, RO system, natural gas heating and plumbed at all appliances. Bordering Scottsdale/PV, walk to countless restaurants and shopping. Located in the highly desirable 3-C's (Chaparral, Cocopah & Cherokee schools). 5 mins to both the 101 and 51 and 20 mins to Sky Harbor.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Cactus

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $122k1442k

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

Neighborhood: West Cactus

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500500055006000Rent in $10456064

* 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
Cherokee Elementary School Primary Regular 500 31 9
Cocopah Middle School Middle Regular 899 43 9
Chaparral High School High Regular 2,053 87 7

Cherokee Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 31
9
GreatSchools Rating

Cocopah Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 43
9
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,053
  • # of teachers: 87
7
GreatSchools Rating
 

$393,300$480,700$437,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,518
Property Tax -$722
Property Insurance -$65
HOA -$296
Property Management Fees -$99
CASH FLOW
-$230

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.

$437,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,555

INVESTMENT

$121,555

Down Payment
$109,250
Rehab Estimate
$5,750
Closing Costs
$6,555

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,250
Loan Amount $327,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,843

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$2,470
1$2,4702$2,5003$2,6504$2,7005$2,950
$2,950
RENT COMPS ANALYSIS
  • 6940 E Cochise Road E #1024 Paradise Valley, AZ 1
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.28
    •  
  • 10757 N 74th Street #2004 Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2007
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.42
    •  
  • 11000 N 77th Place #2054 Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2004
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.61
    •  
  • 10757 N 74th Street #1019 Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 2007
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.40
    •  
  • 7525 E Gainey Ranch Road #114 Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 1993
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.44
    •  
PROPERTY LISTING DETAILS
Burt Campbell
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180759
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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