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8141 E Cortez Drive Scottsdale, AZ 85260

3 Beds 2 Baths 2,032 sqft Built 1992

$750,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $369.09
  • 2 Days on Market
  • MLS # : 6263006
  • Updated Date : 07/12/2021 at 21:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,032 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

This beautiful home is located in guard gated Scottsdale Country Club East and the on the Starfire golf course. There's a gorgeous view from the large patio overlooking the lake and 4th green. The home was completely updated when the owner purchased it in 2013 and features custom cabinets with granite counters in the kitchen & baths, stainless appliances, tile flooring in all living areas, a wood burning fireplace in the living room and a large dining area perfect for entertaining. Master bath has a large shower plus soaking tub, vessel sinks and walk in closet. Cortez drive homeowners have access to their own private pool just down the street from the home and there's community tennis courts. The HOA maintains the front yard landscaping making this a perfect lock and leave home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Country Club East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $122k703k

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

Neighborhood: Scottsdale Country Club East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10453397

* 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
Cochise Elementary School Primary Regular 579 33 10
Cocopah Middle School Middle Regular 899 43 9
Chaparral High School High Regular 2,053 87 7

Cochise Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 33
10
GreatSchools Rating

Cocopah Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 43
9
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,053
  • # of teachers: 87
7
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,605
Property Tax -$351
Property Insurance -$67
HOA -$245
Property Management Fees -$99
CASH FLOW
-$457

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.

$750,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.2%
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-$10k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$11,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $3,160

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7473$2,9104$3,5005$4,000
$4,000
RENT COMPS ANALYSIS
  • 8141 E Cortez Drive Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.43
    •  
  • 8750 E Belgian Trail Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 1984
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.25
    •  
  • 8202 E Cortez Drive Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1991
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,747
    • $1.51
    •  
  • 12412 N 76th Street Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1983
    property image
    LEASED 04/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.77
    •  
  • 8253 E Cortez Drive Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 1996
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.69
    •  
PROPERTY LISTING DETAILS
Lea Ann Hervey
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6263006
Last Updated: 07/12/2021
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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