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8286 E Hoverland Road Scottsdale, AZ 85255

3 Beds 3 Baths 2,612 sqft Built 1998

$725,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $277.57
  • 2 Days on Market
  • MLS # : 6176468
  • Updated Date : 01/03/2021 at 00:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,612 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jason Mitchell Real Estate

Listing Agent's Description

STUNNING 3 BR 2.5 BA home in the guard-gated area of the GRAYHAWK community. This is the very popular sought after ''Montoro'' model with extended front guest Bedroom - one of Edmunds' award-winning designs. Ultra LIGHT, BRIGHT, and VERY OPEN Floorplan with soaring ceilings. NEW ROOF, new paint , extremely well maintained, in immaculate condition. The GRAYHAWK community offers hiking trails, parks, heated community pool and spa, and tennis/sports court. Very conveniently located near the 101 loop, and an abundance of restaurants, and retail shops. See it today!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k549k

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

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10453434

* 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
Grayhawk Elementary School Primary Regular 597 32 10
Grayhawk Elementary School Middle Regular 597 32 10
Pinnacle High School High Regular 2,443 96 8

Grayhawk Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 32
10
GreatSchools Rating

Grayhawk Elementary School

  • Education Level: Middle
  • # of students: 597
  • # of teachers: 32
10
GreatSchools Rating

Pinnacle High School

  • Education Level: High
  • # of students: 2,443
  • # of teachers: 96
8
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$2,675
Property Tax -$540
Property Insurance -$78
HOA -$15
Property Management Fees -$99
CASH FLOW
$184

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.

$725,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$68,643

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
  • $3,585

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,5004$3,8005$4,000
$4,000
RENT COMPS ANALYSIS
  • 8286 E Hoverland Road Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 20410 N 78th Way Scottsdale, AZ 2
    • 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1998
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
  • 7804 E Phantom Way Scottsdale, AZ 3
    • 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 1997
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.43
    •  
  • 19863 N 84th Street Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 2,729 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,729 Sqft ∙ Built 2000
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.39
    •  
  • 20429 N 83rd Place Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 1998
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.44
    •  
PROPERTY LISTING DETAILS
James Wexler
Jason Mitchell Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176468
Last Updated: 01/03/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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