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8244 E Northland Drive Scottsdale, AZ 85251

4 Beds 2 Baths 1,751 sqft Built 1961

$525,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $299.83
  • 5 Days on Market
  • MLS # : 6183077
  • Updated Date : 01/21/2021 at 17:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,751 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Investor's dream or an opportunity to make this a home of your own! Great Scottsdale location on 1/4 of an acre lot with pool. Newer AC, Newer Roof, majority of plumbing reined and main sewer line redone. Huge backyard with large grass area and huge pool (needs new plaster) Property being sold as-is. NO HOA Master shower redone with tile and nice vanity North/South Exposure. **NO CONTRACT ASSIGNMENTS**

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Country Acres

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Scottsdale Country Acres

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,824
Property Tax -$246
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$259

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.

$525,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.38%

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

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,966

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8993$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 8244 E Northland Drive Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5028 N Granite Reef Road Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1969
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $1.08
    •  
  • 8346 E Chaparral Road Scottsdale, AZ 3
    • 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1969
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.13
    •  
  • 8401 E Vista Drive Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1961
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.11
    •  
  • 5052 N 83rd Street Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 1969
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
PROPERTY LISTING DETAILS
Lauren Rosin
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183077
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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