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7928 E Culver Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,602 sqft Built 1958

$389,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $242.82
  • 3 Days on Market
  • MLS # : 6159741
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,602 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Prime South Scottsdale location under 400k! Three bedroom, 2 bathroom home with updated kitchen and bathrooms. Granite counters, stainless steel appliances, gas stove, kitchen island and glass backsplash. Travertine surrounds in both bathrooms with newer vanities and toilets. Dual pane vinyl windows throughout. Back patio has 220V connection and utility sink. Perfect for projects. Backyard has mulch for the horticulture enthusaist, but can easily be removed as well. Great location between Old Town Scottsdale and Tempe with easy 101 and 202 access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: McDowell Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: McDowell Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9372993

* 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
Yavapai Elementary School Primary Regular 421 26 4
Coronado High School High Regular 1,039 61 2

Yavapai Elementary School

  • Education Level: Primary
  • # of students: 421
  • # of teachers: 26
4
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,435
Property Tax -$182
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$45

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.

$389,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 12.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$25,874

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,027

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7303$1,9504$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 7928 E Culver Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.08
    •  
  • 7827 E Culver Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1958
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.10
    •  
  • 7736 E Latham Street Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1968
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.20
    •  
  • 8317 E Granada Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.39
    •  
  • 7928 E Loma Land Drive Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1959
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.37
    •  
PROPERTY LISTING DETAILS
Christopher Grabe
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159741
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.

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