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7446 E Palm Lane Scottsdale, AZ 85257

4 Beds 2 Baths 1,659 sqft Built 1957

$574,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $346.53
  • 2 Days on Market
  • MLS # : 6206808
  • Updated Date : 03/13/2021 at 15:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,659 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

WELCOME HOME! This is a great 4 bedroom/2 bath open concept home w/4th bedroom separated from the rest. Remodeled Kitchen has gas oven & cook top granite counter w/open working area overlooks the great room & back patio/pool area so your included in all that is going on. This home sports a fenced diving pool, newly renovated kool deck w/large entertaining area, 3/4 length cvrd patio is like having another outdoor room to play. 3 bedrooms & the hall bath on the end, Master w/remodeled walk in shower/vanity & commode.2 car deep tandem garage w/extra storage area for bikes & toys. Laundry in the kitchen plus pantry, grassy areas, North/South orientation & plenty of extra parking for guest. Great street appeal. Don't miss out on this one. It's not a fix & flip well cared for & location AA+

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $83k465k

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

Neighborhood: Scottsdale Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8622993

* 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
Pima Elementary School Primary Regular 565 34 8
Coronado High School High Regular 1,039 61 2
Pima Elementary School Primary Unknown NA

Pima Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 34
8
GreatSchools Rating

Coronado High School

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

Pima Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$517,410$632,390$574,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,997
Property Tax -$269
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$224

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.

$574,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

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$158,099

INVESTMENT

$158,099

Down Payment
$143,725
Rehab Estimate
$5,750
Closing Costs
$8,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,725
Loan Amount $431,175
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$18,256

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,331

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,2003$2,2004$2,4755$2,700
$2,700
RENT COMPS ANALYSIS
  • 7446 E Palm Lane Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.33
    •  
  • 1709 N 75th Place Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1950
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.17
    •  
  • 7448 E Coronado Road Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1955
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.47
    •  
  • 7807 E Cypress Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1962
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.51
    •  
  • 7440 E Palm Lane Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 1957
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.47
    •  
PROPERTY LISTING DETAILS
Paula E Serven
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206808
Last Updated: 03/13/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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