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7148 N 78th Street Scottsdale, AZ 85258

3 Beds 3 Baths 2,944 sqft Built 1978

$1,150,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $390.63
  • 51 Days on Market
  • MLS # : 6160567
  • Updated Date : 01/01/2021 at 23:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,944 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

One of the largest lots in McCormick Ranch area, at almost half an acre. This crown jewel of McCormick Ranch has over 200 feet of premium water frontage. The unobstructed water front compliments Camelback mountain and the golf course while creating a scenic barrier. This property is truly one of a kind and is available for purchase for only the 2nd time since it was built. The original house is 2455 sqft plus an addition that can be customized in numerous ways. The property is sold AS-IS

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PRICE & RENT TRENDS

Neighborhood: Villa la Playa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k547k

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

Neighborhood: Villa la Playa

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
Kiva Elementary School Primary Regular 463 29 10
Mohave Middle School Middle Regular 816 48 7
Saguaro High School High Regular 1,316 63 7

Kiva Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
10
GreatSchools Rating

Mohave Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 48
7
GreatSchools Rating

Saguaro High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 63
7
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$4,243
Property Tax -$538
Property Insurance -$85
HOA -$1
Property Management Fees -$99
CASH FLOW
-$1,466

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.

$1,150,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,159

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
  • $3,783

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,6004$3,9955$4,500
$4,500
RENT COMPS ANALYSIS
  • 7148 N 78th Street Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,944 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,944 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6701 N Scottsdale Road #41 Scottsdale, AZ 2
    • 4 beds 4 baths ∙ 2,812 Sqft ∙ Built 1975 4 beds 4 baths ∙ 2,812 Sqft ∙ Built 1975
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
  • 7176 N Via De Amigos -- Scottsdale, AZ 3
    • 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1988
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.33
    •  
  • 8338 E Via De La Luna -- Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 1979 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 1979
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.29
    •  
  • 7441 E Century Drive Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 3,101 Sqft ∙ Built 1972 4 beds 3 baths ∙ 3,101 Sqft ∙ Built 1972
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.45
    •  
PROPERTY LISTING DETAILS
Azin Jasmine Iganian
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160567
Last Updated: 01/01/2021
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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