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8302 E Avalon Drive Scottsdale, AZ 85251

3 Beds 2 Baths 1,777 sqft Built 1963

$659,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $370.85
  • 2 Days on Market
  • MLS # : 6160600
  • Updated Date : 11/14/2020 at 09:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,777 sqft
  • Baths : 2 full
Listing Agent

Metro Realty Professionals

Listing Agent's Description

Beautiful Home Located in the Highly Sought After Subdivision of Village Grove, Pride Of Ownership Shows Throughout, Awesome Curb Appeal, Private Corner Lot with a North/South Exposure, Beautiful Lush Landscape, Grass Area in the Front and Backyard, Resort Like Backyard, Sparkling Private Pool with a Waterfall, Gorgeous Sitting Area with a Fire Pit, Extended Covered Patio, Paver Sitting Area Off Master Bedroom, Above Ground Spa (Convey ''As Is ''Condition), Outdoor Storage Shed, Interior Consists of Separate Family and Living Rooms, Inside Laundry Room, Formal Dining, Eat-In Kitchen Area, Desk/Work Station, New Stainless Steel Appliances, Tile Surround Showers, French Doors, Carpet, Tile and Wood Flooring, Ceiling Fans, Sun Screens, Roof Replace In 2010 and Much More!

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
Pima Elementary School Primary Regular 565 34 8
Coronado High School High Regular 1,039 61 2

Pima Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 34
8
GreatSchools Rating

Coronado High School

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

$593,100$724,900$659,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,431
Property Tax -$308
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$570

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.

$659,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.35%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,701

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$2,330
1$2,3302$2,3403$2,4004$2,5955$2,850
$2,850
RENT COMPS ANALYSIS
  • 8302 E Avalon Drive Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.31
    •  
  • 2825 N 82nd Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1959
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.48
    •  
  • 8541 E Catalina Drive Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1961
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.48
    •  
  • 8350 E Cheery Lynn Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1962
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.59
    •  
  • 3326 N 82nd Place Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1964
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.53
    •  
PROPERTY LISTING DETAILS
Randall Edgar
Metro Realty Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160600
Last Updated: 11/14/2020
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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