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7519 E Corva Drive Scottsdale, AZ 85266

2 Beds 2 Baths 1,518 sqft Built 1998

$515,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $339.26
  • 4 Days on Market
  • MLS # : 6159546
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,518 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Picture perfect 2 bed 2 bath home ready to call your own. Open floor plan and an abundance of light. Great room with stacked stone fireplace opens to the back patio with plenty of room for entertaining or relaxing and taking in the peaceful desert views and the adjacent open space beyond the yard. Master retreat boasts a sitting area and 2 closets. The bathroom is up to date and well appointed. Guest suite is located on the opposite side of the home for privacy. Large oversized 2.5 car garage, built in cabinetry for storage. Come check out all that this residence and Bellasera has to offer!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bellasera

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $122k677k

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

Neighborhood: Bellasera

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $10453833

* 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
Lone Mountain Elementary School Primary Regular 589 31 9
Lone Mountain Elementary School Middle Regular 589 31 9
Cactus Shadows High School High Regular 1,704 70 8

Lone Mountain Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 31
9
GreatSchools Rating

Lone Mountain Elementary School

  • Education Level: Middle
  • # of students: 589
  • # of teachers: 31
9
GreatSchools Rating

Cactus Shadows High School

  • Education Level: High
  • # of students: 1,704
  • # of teachers: 70
8
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,900
Property Tax -$240
Property Insurance -$57
HOA -$58
Property Management Fees -$99
CASH FLOW
-$364

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.

$515,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 1.1%
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$200k$400k$600k$800k$1.0M$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$8,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,110

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9903$1,9994$2,0005$2,495
$2,495
RENT COMPS ANALYSIS
  • 7519 E Corva Drive Scottsdale, AZ 2
    • 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,518 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.31
    •  
  • 7220 E Mary Sharon Drive #153 Scottsdale, AZ 1
    • 2 beds 3 baths ∙ 1,264 Sqft ∙ Built 1985 2 beds 3 baths ∙ 1,264 Sqft ∙ Built 1985
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.34
    •  
  • 30936 N 75th Way Scottsdale, AZ 3
    • 2 beds 2 baths ∙ 1,394 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,394 Sqft ∙ Built 1998
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.43
    •  
  • 7220 E Mary Sharon Drive #107 Scottsdale, AZ 4
    • 2 beds 3 baths ∙ 1,488 Sqft ∙ Built 1985 2 beds 3 baths ∙ 1,488 Sqft ∙ Built 1985
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.34
    •  
  • 32427 N 71st Way Scottsdale, AZ 5
    • 2 beds 2 baths ∙ 1,723 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,723 Sqft ∙ Built 1995
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.45
    •  
PROPERTY LISTING DETAILS
Stacy Paluscio
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159546
Last Updated: 11/13/2020
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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