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8224 E Oak Street Scottsdale, AZ 85257

3 Beds 2 Baths 2,050 sqft Built 1960

$750,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $365.85
  • 3 Days on Market
  • MLS # : 6190545
  • Updated Date : 02/05/2021 at 22:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,050 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

A1 South Scottsdale MASTERPIECE. 1/3rd Of An Acre BACKYARD. New EVERYTHING. A/C, Synthetic Stucco, Black-Cap Windows, Garage Door, Pebble Tec Pool w/New Vacuum Line, DREAM Backyard, LG Appliances, GAS RANGE, Samsung CHAMPAGNE Colored Washer/Dryer, Double Sinks In Both Baths, NEW A/C Ducts!, All New Shaker Doors, Waterfall Brazilian Quartz, New Modern Outlets, Insane Amount Of LED Lighting, Kwikset 1 Key Square Door Handles, Under Cabinet Lighting, Luxury Ceiling Fans, Raised Hallway Ceiling For Optimal Open Floor Plan, New Sod w/New Sprinklers, Baths w/ Shower Glass!, Oversized Mirrors, Bluetooth Bath Fans, and Moen Faucets w Rainfall Rain Shower! The List Is Soo Long! Investors, Airbnb, VRBO, Entertainers, Families, Couples, Singles, This House Works For Everybody!!! COME NOW. FAST.

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
Hohokam Traditional School Primary Regular 432 30 6
Coronado High School High Regular 1,039 61 2
Coronado High School High Unknown NA

Hohokam Traditional School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 30
6
GreatSchools Rating

Coronado High School

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

Coronado High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,605
Property Tax -$351
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$852

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.

$750,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.30%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

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 65% 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

0.58

YEARS SAVED

$1,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,665

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2703$2,4004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 8224 E Oak Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.11
    •  
  • 2220 N 82nd Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 1961
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.14
    •  
  • 8209 E Sheridan Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1959
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.21
    •  
  • 8117 E Lewis Avenue Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1961
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.46
    •  
  • 2933 N 83rd Street Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1963
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.39
    •  
PROPERTY LISTING DETAILS
Arun Dev
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190545
Last Updated: 02/05/2021
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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