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8352 E Cortez Drive Scottsdale, AZ 85260

3 Beds 2 Baths 1,819 sqft Built 1989

$628,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $345.24
  • 4 Days on Market
  • MLS # : 6205307
  • Updated Date : 03/13/2021 at 15:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,819 sqft
  • Baths : 2 full
Listing Agent

North & Co

Listing Agent's Description

Situated on a corner lot in the private guard-gated community of Scottsdale Country Club, this timeless home offers 3 bedrooms, 2 baths, spacious great room with stone fireplace. Gourmet kitchen features granite counter tops with upgraded custom cabinetry, detailed lighting and stainless-steel appliances. Travertine tile floors and plantation shutters compliment spaces throughout the home. Private covered back patio & yard surrounded by mature landscaping backing community greenbelt/cart path. Fresh paint inside & out! Great lock & leave property!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Country Club East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $122k703k

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

Neighborhood: Scottsdale Country Club East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10453397

* 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
Cochise Elementary School Primary Regular 579 33 10
Cocopah Middle School Middle Regular 899 43 9
Chaparral High School High Regular 2,053 87 7

Cochise Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 33
10
GreatSchools Rating

Cocopah Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 43
9
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,053
  • # of teachers: 87
7
GreatSchools Rating
 

$565,200$690,800$628,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,181
Property Tax -$294
Property Insurance -$63
HOA -$244
Property Management Fees -$99
CASH FLOW
-$231

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.

$628,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,170

INVESTMENT

$172,170

Down Payment
$157,000
Rehab Estimate
$5,750
Closing Costs
$9,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,000
Loan Amount $471,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$17,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $2,665

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,537
1$2,5372$2,5503$2,6504$2,7475$2,800
$2,800
RENT COMPS ANALYSIS
  • 8352 E Cortez Drive Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.46
    •  
  • 8180 E Shea Boulevard #1037 Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1996
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,537
    • $1.43
    •  
  • 8861 E Altadena Avenue Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1979
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.42
    •  
  • 8202 E Cortez Drive Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1991
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,747
    • $1.51
    •  
  • 7949 E Cholla Street Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.50
    •  
PROPERTY LISTING DETAILS
Trevor Halpern
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205307
Last Updated: 03/13/2021
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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