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7301 E Latham Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,600 sqft Built 1960

$470,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $293.75
  • 4 Days on Market
  • MLS # : 6180951
  • Updated Date : 01/14/2021 at 23:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Charming 3 bedroom, 2 full bathroom all block Cavalier home features granite countertops in kitchen, tile flooring throughout, Vessel bathroom sink, dual pane windows installed and the entire roof was replaced in 2018. Rare 2 car garage with new Liftmaster opener installed Jan/21. This North-South lot has a large lot with grassy areas in front and back. Back yard has a side gate and a large double gate to alley for vehicle/toys access. Separate workshop/laundry room provides additional storage space. Close to old town, Skysong, ASU, Fashion Square and airport. No HOA fees!!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: New Papago Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9362993

* 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
Yavapai Elementary School Primary Regular 421 26 4
Coronado High School High Regular 1,039 61 2

Yavapai Elementary School

  • Education Level: Primary
  • # of students: 421
  • # of teachers: 26
4
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,632
Property Tax -$220
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$40

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.

$470,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.8%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$33,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0503$2,1504$2,1505$2,295
$2,295
RENT COMPS ANALYSIS
  • 7301 E Latham Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.28
    •  
  • 7326 E Latham Street Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1960
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.17
    •  
  • 7025 E Culver Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1958
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.40
    •  
  • 7508 E Diamond Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1960
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.26
    •  
  • 7501 E Moreland Street Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1959
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.35
    •  
PROPERTY LISTING DETAILS
David R Lewis
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180951
Last Updated: 01/14/2021
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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