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7500 E Mccormick Parkway #23 Scottsdale, AZ 85258

2 Beds 2 Baths 2,280 sqft Built 1980

$998,000

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $437.72
  • 2 Days on Market
  • MLS # : 6170584
  • Updated Date : 12/12/2020 at 02:25
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,280 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Rare Charming Mediterranean One Level Villa with No Interior Steps. Fabulous End Unit with a Unique Corner Location. Enter Your Serene & Sophisticated Paradise through a Unique Hand Carved Wood Front Door. Natural Light throughout! Antique Chicago Bricks in Front & Back Patios. This Villa has preserved the Charming Hand Formed Tellavera Tile which tells Part of the History of Colonia Encantada. Viking Appliances, Beautiful Provenca Oak Wire Brushed Hand Distressed Hardwood Floors, Soaring Vaulted Ceilings with Amazing Chandeliers and Lighting throughout. Master Bathroom has a New Walk in Shower with a 36'' opening accented with Tellavera Tile. 2019 100 AMP Sub Panel & 200 AMP Main Breaker. 2019 Landscape Transformer & Lamps, 2019 (2) Hard Wired Smoke Detectors, 2020 Expoxy Garage Floor

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cuernavaca Segundo

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $122k922k

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

Neighborhood: Cuernavaca Segundo

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10453143

* 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
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$3,682
Property Tax -$597
Property Insurance -$72
HOA -$603
Property Management Fees -$99
CASH FLOW
-$1,173

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.

$998,000

PROJECTED PRICE

$3,880

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$936

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
  • $3,352

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6503$2,7504$3,4005$3,950
$3,950
RENT COMPS ANALYSIS
  • 7500 E Mccormick Parkway #23 Scottsdale, AZ 1
    • 2 beds 2 baths ∙ 2,280 Sqft ∙ Built 1980 2 beds 2 baths ∙ 2,280 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8989 N Gainey Center Drive #202 Scottsdale, AZ 2
    • 2 beds 2 baths ∙ 1,970 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,970 Sqft ∙ Built 1994
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.35
    •  
  • 7301 E Woodsage Lane Scottsdale, AZ 3
    • 2 beds 3 baths ∙ 2,154 Sqft ∙ Built 1999 2 beds 3 baths ∙ 2,154 Sqft ∙ Built 1999
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.28
    •  
  • 8007 N 73rd Street Scottsdale, AZ 4
    • 2 beds 2 baths ∙ 2,080 Sqft ∙ Built 1979 2 beds 2 baths ∙ 2,080 Sqft ∙ Built 1979
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.63
    •  
  • 8014 E Del Laton Drive Scottsdale, AZ 5
    • 2 beds 3 baths ∙ 2,442 Sqft ∙ Built 1980 2 beds 3 baths ∙ 2,442 Sqft ∙ Built 1980
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.62
    •  
PROPERTY LISTING DETAILS
Marie A Meininger
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170584
Last Updated: 12/12/2020
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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