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7576 E Phantom Way Scottsdale, AZ 85255

3 Beds 2 Baths 2,500 sqft Built 1998

$770,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $308.00
  • 2 Days on Market
  • MLS # : 6190080
  • Updated Date : 02/07/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,500 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Great opportunity in the fabulous neighborhood of Coventry at Grayhawk! Beautiful 3bd plus large den home, with many upgrades, including remodeled bathrooms with quartzite counters, real wood plank floors, 12 X 24 inch tile, re-stained expresso cabinets, stainless steel appliances with gas cooktop. Great open floor plan with kitchen and family room looking out to amazing yard with huge full length covered patio, big diving pool, built in BBQ, gas firepit, lots of green artificial grass, and hedges. Great energy efficiency with 2X6 construction, ceiling fans, and north south exposure. Walk to the highly sought after Grayhawk elementary, new Guidepost Montessori, and Grayhawk Park with walking path, basketball, volleyball and tennis courts, along with baseball fields.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k549k

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

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10453434

* 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
Mountain Trail Middle School Middle Regular 714 29 7
Pinnacle High School High Regular 2,443 96 8

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

Pinnacle High School

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

$693,000$847,000$770,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,675
Property Tax -$573
Property Insurance -$76
HOA -$22
Property Management Fees -$99
CASH FLOW
-$344

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.

$770,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$209,800

INVESTMENT

$209,800

Down Payment
$192,500
Rehab Estimate
$5,750
Closing Costs
$11,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,500
Loan Amount $577,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$18,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $3,119

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,0003$3,1004$3,1955$3,500
$3,500
RENT COMPS ANALYSIS
  • 7576 E Phantom Way Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.24
    •  
  • 7670 E Quill Lane Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 2,650 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,650 Sqft ∙ Built 1998
    LEASED 12/26/14
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.02
    •  
  • 20410 N 78th Way Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
  • 7741 E Buteo Drive Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.31
    •  
  • 7804 E Phantom Way Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.43
    •  
PROPERTY LISTING DETAILS
Frank E Estes
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190080
Last Updated: 02/07/2021
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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