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7307 E Pierce Street Scottsdale, AZ 85257

4 Beds 2 Baths 1,810 sqft Built 1961

$529,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $292.76
  • 3 Days on Market
  • MLS # : 6165213
  • Updated Date : 11/27/2020 at 18:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,810 sqft
  • Baths : 1 full , 1 half
Listing Agent

American Realty Brokers

Listing Agent's Description

Gorgeous 4 bdrm, 2 bath home in the heart of Scottsdale on a large 11,540sf cul de sac lot. The house was completely remodeled in 2020 including new HVAC system, new electric panel, new windows and doors, new base trim, new flooring, new lighting and plumbing fixtures, completely remodeled kitchen and both baths remodeled. New Oct 2020: interior/exterior paint, updated front yard landscape. This is a beauty!

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
 

$476,910$582,890$529,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,955
Property Tax -$248
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$414

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.

$529,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.37%

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-$5.0k$0.0$5.0k$10k$15k

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$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9504$2,0005$2,195
$2,195
RENT COMPS ANALYSIS
  • 7307 E Pierce Street Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.08
    •  
  • 1115 E Bluebell Lane Tempe, AZ 1
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1962
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 7237 E Mckinley Street Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1961
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
  • 7413 E Polk Street Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1961
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
  • 7431 E Diamond Street Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 1960
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.30
    •  
PROPERTY LISTING DETAILS
John S. Rooney
American Realty Brokers
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165213
Last Updated: 11/27/2020
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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