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7532 E Edgemont Avenue Scottsdale, AZ 85257

3 Beds 2 Baths 1,625 sqft Built 1959

$429,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $264.55
  • 5 Days on Market
  • MLS # : 6153922
  • Updated Date : 10/30/2020 at 10:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,625 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Come see this beautiful 1 story, 3 bedroom, 2 bath floor plan home. GREAT location near LOTS of Shopping & Dining. Also near Old Town Scottsdale, The Phoenix Zoo and Botanical Gardens, Papago Park, TONS of golf, TONS hiking and biking trails, and easy freeway access. The kitchen features painted cabinets, gray quartz counter tops, and stainless-steel appliances. NEW interior and exterior paint, NEW carpeting throughout., NEW Luxury Vinyl Plank flooring in all the main living areas and both bathrooms.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10182993

* 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

  • 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
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,586
Property Tax -$201
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$55

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.

$429,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$28,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,023

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7503$1,8904$2,2955$2,475
$2,475
RENT COMPS ANALYSIS
  • 7532 E Edgemont Avenue Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.16
    •  
  • 7314 E Lewis Avenue Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 2316 N 72nd Place Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1957
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.16
    •  
  • 7337 E Lewis Avenue Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1957
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.31
    •  
  • 7807 E Cypress Street Scottsdale, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153922
Last Updated: 10/30/2020
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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