Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7757 E Journey Lane Scottsdale, AZ 85255

4 Beds 3 Baths 2,440 sqft Built 1997

$700,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $286.89
  • 3 Days on Market
  • MLS # : 6160278
  • Updated Date : 11/13/2020 at 16:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,440 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

This is your chance to own a beautifully updated home in Grayhawk, one of Scottsdale's highest demand neighborhoods, and just steps from parks and meandering paths. You're greeted by high vaulted ceilings, which flow through all of the living spaces. Continue to the great room, starting with the stunning kitchen, featuring tons of cabinet space, topped by quartz counters, and a huge center island, which is perfect for entertaining. Also downstairs is the oversized master bedroom, with vaulted ceilings, a large walk-in closet, and a remodeled bathroom that will blow you away. Upstairs are three large guest bedrooms and an updated guest bathroom. The covered patio and sparkling blue pool are wonderful places to make memories. You have found the perfect combination of luxury and relaxation.

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
Grayhawk Elementary School Primary Regular 597 32 10
Grayhawk Elementary School Middle Regular 597 32 10
Pinnacle High School High Regular 2,443 96 8

Grayhawk Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 32
10
GreatSchools Rating

Grayhawk Elementary School

  • Education Level: Middle
  • # of students: 597
  • # of teachers: 32
10
GreatSchools Rating

Pinnacle High School

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

$630,000$770,000$700,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,583
Property Tax -$521
Property Insurance -$75
HOA -$21
Property Management Fees -$99
CASH FLOW
-$169

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.

$700,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.45%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$32,584

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
  • $3,117

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,1954$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 7757 E Journey Lane Scottsdale, AZ 1
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 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 3
    • 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
    •  
  • 7842 E Nestling Way Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.31
    •  
  • 7711 E Thunderhawk Road Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.26
    •  
PROPERTY LISTING DETAILS
Jeff Barchi
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160278
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.

BESbswy