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7628 N 77th Place Scottsdale, AZ 85258

3 Beds 3 Baths 2,294 sqft Built 1993

$685,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $298.61
  • 6 Days on Market
  • MLS # : 6171299
  • Updated Date : 12/16/2020 at 13:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,294 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jason Mitchell Real Estate

Listing Agent's Description

Prime location in the heart of Scottsdale! Located in the Gated Community of Meridian in McCormick Ranch. Open and bright two level home features travertine & hard wood flooring as well as 5'' baseboards & plantation shutters throughout. Large Kitchen includes White kitchen cabinets with granite counters & Stainless Steel appliances. Renovated master retreat features large glass shower enclosure & Large closets with plenty of storage. Relax outside and enjoy the AZ weather with private pool and built-in BBQ! Minutes to Great Schools, the Greenbelt plus all of the amenities McCormick Ranch has to offer - The best Golf, Tennis, Hiking, Shopping & Dining.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meridian on McCormick Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k588k

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

Neighborhood: Meridian on McCormick Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10452993

* 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
 

$616,500$753,500$685,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$2,527
Property Tax -$332
Property Insurance -$72
HOA -$18
Property Management Fees -$99
CASH FLOW
$222

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.

$685,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$73,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $3,269

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$2,880
1$2,8802$3,2003$3,2004$3,2705$3,300
$3,300
RENT COMPS ANALYSIS
  • 7628 N 77th Place Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 2,294 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,294 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.43
    •  
  • 7843 E Via Costa -- Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 1978
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.31
    •  
  • 7675 N 78th Street Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 1988
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.47
    •  
  • 7500 N Via Camello Del Sur -- Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 2,295 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,295 Sqft ∙ Built 1978
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.39
    •  
  • 7044 N Via De Paesia -- Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 2,152 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,152 Sqft ∙ Built 1975
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.53
    •  
PROPERTY LISTING DETAILS
James Wexler
Jason Mitchell Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171299
Last Updated: 12/16/2020
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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