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PROPERTY INFO
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.
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PRICE & RENT TRENDS
Neighborhood: Scottsdale Country Club East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Scottsdale Country Club East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
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
-
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
Re/max Fine Properties
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6263006
Last Updated: 07/12/2021
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.
