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8137 E Indianola Avenue Scottsdale, AZ 85251

3 Beds 2 Baths 1,302 sqft Built 1967

$475,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1967
  • Price/Sqft : $364.82
  • 18 Days on Market
  • MLS # : 6148209
  • Updated Date : 10/26/2020 at 22:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,302 sqft
  • Baths : 2 full
Listing Agent

American Realty Brokers

Listing Agent's Description

Come and see for yourself one of the most unique homes in all of Old Town Scottsdale! Featuring vaulted ceilings and a completely open floorplan, this home features an upgraded kitchen with granite countertops, dark wood cabinets, stainless steel appliances and under cabinet lighting. It also boasts plumbing and electrical work completed in 2018 and fire sprinklers. Step out into the backyard and you'll find an inviting space perfect for entertaining, lined with pavers and featuring astroturf and a 200 square foot insulated shed. The only thing this home is missing is your personal touch, schedule your showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10182993

* 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
Pima Elementary School Primary Regular 565 34 8
Coronado High School High Regular 1,039 61 2

Pima Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 34
8
GreatSchools Rating

Coronado High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,753
Property Tax -$222
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$166

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.

$475,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$21,772

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $1,960

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9603$2,1004$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 8137 E Indianola Avenue Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.51
    •  
  • 3519 N 83rd Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.34
    •  
  • 4026 N 83rd Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1958
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 3714 N Granite Reef Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.59
    •  
  • 8350 E Indianola Avenue Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.59
    •  
PROPERTY LISTING DETAILS
Blake Keathley
American Realty Brokers
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6148209
Last Updated: 10/26/2020
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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