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7825 E Hanover Way Scottsdale, AZ 85255

5 Beds 6 Baths 4,611 sqft Built 2002

$1,500,000

List Price

$6,740

$6.5K - $7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $325.31
  • 3 Days on Market
  • MLS # : 6184104
  • Updated Date : 01/21/2021 at 23:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,611 sqft
  • Baths : 5 full , 1 half
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

Beautiful Newly Remodeled (2021) home in gated Vista Monterey community. Stunning 5 bedroom + office + huge bonus room, 5.5 bath home with all new flooring and paint on .90 acres. Wood Beams and an open floor plan with updated FP in the family room. The heart of the home is the chefs dream gourmet kitchen with lots of natural light, new countertops and SS appliances. The large master suite separate from the four other bedrooms with backyard access and updated spa-like master bath. A perfect sized home office is next to the master bedroom. A guest casita style bedroom and en-suite bath are off the formal living room. 3 of the bedrooms and bathrooms are split and close to the oversized Bonus room with tons of room for play or entertaining. The backyard is private and feels like a

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Monterey

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $122k1163k

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

Neighborhood: Vista Monterey

NeighborhoodNIR Market*CityMarket2010Year20002019 Q215002000250030003500400045005000Rent in $10455388

* 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
Pinnacle Peak Elementary School Primary Regular 610 31 9
Pinnacle Peak Elementary School Middle Regular 610 31 9
Pinnacle High School High Regular 2,443 96 8

Pinnacle Peak Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 31
9
GreatSchools Rating

Pinnacle Peak Elementary School

  • Education Level: Middle
  • # of students: 610
  • # of teachers: 31
9
GreatSchools Rating

Pinnacle High School

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

$1,350,000$1,650,000$1,500,000

PURCHASE PRICE

$6,066$7,414$6,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,740
EXPENSES Loan Payment -$5,210
Property Tax -$1,116
Property Insurance -$117
HOA -$69
Property Management Fees -$99
CASH FLOW
$128

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.

$1,500,000

PROJECTED PRICE

$6,740

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.5%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k$50k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,210

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $375,000
Loan Amount $1,125,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$94,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $6,740

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $7,954

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$6,740
1$6,7402$7,2003$8,450
$8,450
RENT COMPS ANALYSIS
  • 7825 E Hanover Way Scottsdale, AZ 1
    • 5 beds 6 baths ∙ 4,611 Sqft ∙ Built 2002 5 beds 6 baths ∙ 4,611 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $6,740
    • $1.46
    •  
  • 21390 N 83rd Street Scottsdale, AZ 2
    • 5 beds 4 baths ∙ 4,395 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,395 Sqft ∙ Built 2004
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,200
    • $1.64
    •  
  • 23144 N 79th Way Scottsdale, AZ 3
    • 4 beds 5 baths ∙ 4,656 Sqft ∙ Built 1999 4 beds 5 baths ∙ 4,656 Sqft ∙ Built 1999
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,450
    • $1.81
    •  
PROPERTY LISTING DETAILS
Martha Andrews
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184104
Last Updated: 01/21/2021
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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