Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7384 E Starla Drive Scottsdale, AZ 85255

3 Beds 2 Baths 1,580 sqft Built 1993

INVESTimate

$445,000

List Price

$2,020

$1,818 - $2,222

Rent Est.

$455,992  ( +2.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $281.65
  • 3 Days on Market
  • MLS # : 6121823
  • Updated Date : 08/25/2020 at 14:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,580 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

UPDATED plumbing, roof, lighting, storage access & more! Single level home in highly desirable PINNACLE PEAK VILLAS within the LOS PORTONES gated community in North Scottsdale 85255. Spacious open floor plan w/ vaulted ceilings, plantation shutters, FP w/mantel & tile surrounds. Eat-in kitchen w/ large window and open to the great room. Stainless steel Frigidaire Gallery appliances. Master bdrm w/ slider to covered patio & bathroom w/double vanities, walk-in shower w/glass door, separate tub, & walk-in closet w/built-ins. Much to enjoy in this neighborhood w/natural desert washes. Relax poolside in the heated community swimming pool. PRIME LOCATION. Walking distance to fine dining, shopping and minutes to the 101 loop!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pinnacle Peak Villas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Pinnacle Peak Villas

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
Pinnacle Peak Elementary School Primary Regular 610 31 9
Pinnacle Peak Elementary School Middle Regular 610 31 9
Pinnacle High School High Regular 2,443 96 8

Pinnacle Peak Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 31
9
GreatSchools Rating

Pinnacle Peak Elementary School

  • Education Level: Middle
  • # of students: 610
  • # of teachers: 31
9
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,642
Property Tax -$331
Property Insurance -$58
HOA -$150
Property Management Fees -$99
CASH FLOW
-$260

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.

$445,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.47%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,785

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0204$2,1505$2,150
$2,150
RENT COMPS ANALYSIS
  • 7384 E Starla Drive Scottsdale, 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.28
    •  
  • 7650 E Williams Drive #1048 Scottsdale, 1
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
  • 7393 E Hanover Way Scottsdale, 2
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1994
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
  • 7260 E Softwind Drive Scottsdale, 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1993
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.32
    •  
  • 23770 N 75th Street Scottsdale, 5
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1998
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.38
    •  
PROPERTY LISTING DETAILS
Belinda Godin
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121823
Last Updated: 08/25/2020
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.

BESbswy