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8123 E Rovey Avenue Scottsdale, AZ 85250

3 Beds 2 Baths 1,843 sqft Built 1984

$500,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $271.30
  • 4 Days on Market
  • MLS # : 6181135
  • Updated Date : 01/21/2021 at 22:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,843 sqft
  • Baths : 2 full
Listing Agent

Arizona Elite Properties

Listing Agent's Description

Beautiful Scottsdale Villa with NO HOA! 3 Bedrooms with the master split, 2 newly updated bathrooms, eat in kitchen, formal dining room with wet bar and a glass enclosed atrium perfect for an herb garden. Great room has high vaulted ceilings and a wood burning fireplace. This home has an abundance of natural light and features two skylights, two patio sliding doors (one off the master suite and one off the great room) and large windows. Low maintenance desert front yard and lushly landscaped back and side yards. This home boasts a true Southwest decor with saltillo tile throughout. Excellent Scottsdale location close to the 101, numerous golf courses, fabulous shopping and dining in Old Town Scottsdale.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: La Casa Rica

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: La Casa Rica

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
Pueblo Elementary School Primary Regular 492 28 9
Mohave Middle School Middle Regular 816 48 7
Saguaro High School High Regular 1,316 63 7

Pueblo Elementary School

  • Education Level: Primary
  • # of students: 492
  • # of teachers: 28
9
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
 

$450,000$550,000$500,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,737
Property Tax -$234
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$77

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.

$500,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

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

6.33

YEARS SAVED

$36,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,405

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,2103$2,2504$2,2505$2,695
$2,695
RENT COMPS ANALYSIS
  • 8123 E Rovey Avenue Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.20
    •  
  • 8219 E Rose Lane Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1970
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.14
    •  
  • 5904 N Granite Reef Road Scottsdale, AZ 3
    • 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 1975
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.28
    •  
  • 8325 E Mcdonald Drive Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1979
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.35
    •  
  • 8207 E Montebello Avenue Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1970
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.45
    •  
PROPERTY LISTING DETAILS
Kim Franken
Arizona Elite Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181135
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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