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6990 E 6th Street #1026 Scottsdale, AZ 85251

2 Beds 3 Baths 1,897 sqft Built 2016

$669,900

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $353.14
  • 5 Days on Market
  • MLS # : 6174113
  • Updated Date : 12/23/2020 at 21:09
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,897 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

How fast can you move? Outstanding contemporary living and located in the heart of Old Town Scottsdale. This 2/3 bedroom & 2 full + 2 half bathroom townhome's floor plan has been carefully thought out and equipped with all of the currently ''in'' design style counter tops, plumbing and lighting fixtures. One of the best located units in the complex also features Clare Home controlled climate and security, tankless hot water heater, water softener, and folding patio doors on great room and back patio to open up and connect indoor/outdoor living spaces. Views of Papago and Camelback from the master bedroom patio. Throw in a cozy outdoor space and a two car garage with overhead storage and you have a pristine home in a dream location.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Downtown Scottsdale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Downtown Scottsdale

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
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
 

$602,910$736,890$669,900

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,472
Property Tax -$313
Property Insurance -$64
HOA -$322
Property Management Fees -$99
CASH FLOW
-$380

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.

$669,900

PROJECTED PRICE

$2,890

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) -0.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,274

INVESTMENT

$183,274

Down Payment
$167,475
Rehab Estimate
$5,750
Closing Costs
$10,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,475
Loan Amount $502,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,630

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
  • $3,135

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,0504$3,2005$3,250
$3,250
RENT COMPS ANALYSIS
  • 6990 E 6th Street #1026 Scottsdale, AZ 1
    • 2 beds 3 baths ∙ 1,897 Sqft ∙ Built 2016 2 beds 3 baths ∙ 1,897 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7343 E Scottsdale Mall Street #3001 Scottsdale, AZ 2
    • 2 beds 2 baths ∙ 1,950 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,950 Sqft ∙ Built 2007
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.54
    •  
  • 6803 E Main Street #3309 Scottsdale, AZ 3
    • 2 beds 3 baths ∙ 1,811 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,811 Sqft ∙ Built 2008
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.68
    •  
  • 4020 N Scottsdale Road #3003 Scottsdale, AZ 4
    • 2 beds 2 baths ∙ 1,872 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,872 Sqft ∙ Built 2008
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.71
    •  
  • 3233 N 70th Street #1017 Scottsdale, AZ 5
    • 2 beds 4 baths ∙ 1,939 Sqft ∙ Built 2017 2 beds 4 baths ∙ 1,939 Sqft ∙ Built 2017
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.68
    •  
PROPERTY LISTING DETAILS
David Goldberg
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174113
Last Updated: 12/23/2020
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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