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7027 E Hearn Road Scottsdale, AZ 85254

4 Beds 2 Baths 2,368 sqft Built 1979

$620,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $261.82
  • 8 Days on Market
  • MLS # : 6147665
  • Updated Date : 10/27/2020 at 12:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,368 sqft
  • Baths : 2 full
Listing Agent

Those Callaways

Listing Agent's Description

LOCATION PERFECTION. Nestled in the Magic Zip Code's wonderful Raskin Estates, this big abode features a preferred split plan with generous living spaces and a fully updated roof (2020). Manicured shrubs line the front path to the stately gated entry. The sunlit living room opens to the dining room. Just around the corner, the welcoming family room is host to a fireplace and beamed ceiling. Through handsome Viga beams sits the light-and-bright bonus room with patio exits. White hardwood cabinets and black appliances contrast nicely in the eat-in kitchen. Split-plan master suite. A covered patio spans the length of the home, host to an enclosed pet area, fireplace and built-in BBQ. A fenced pool, ramada w/spa, large lawn, gated side yard and RV gate/parking complete the alfresco scene.

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
 

$558,000$682,000$620,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,288
Property Tax -$464
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$54

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.

$620,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.46%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$37,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $3,220

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8703$3,1004$3,3995$3,500
$3,500
RENT COMPS ANALYSIS
  • 7027 E Hearn Road Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 2,368 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,368 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $1.21
    •  
  • 6802 E Redfield Road Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 2,390 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,390 Sqft ∙ Built 1978
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.17
    •  
  • 7020 E Friess Drive Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 2,274 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,274 Sqft ∙ Built 1979
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.36
    •  
  • 6767 E Gelding Drive Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 1996
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,399
    • $1.42
    •  
  • 6828 E Ludlow Drive Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1978
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.49
    •  
PROPERTY LISTING DETAILS
Joann Callaway
Those Callaways
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6147665
Last Updated: 10/27/2020
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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