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8409 E Indianola Avenue Scottsdale, AZ 85251

3 Beds 3 Baths 1,497 sqft Built 1966

$565,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $377.42
  • 3 Days on Market
  • MLS # : 6166384
  • Updated Date : 12/19/2020 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,497 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Recently remodeled Scottsdale stunner! This charming 3 bedroom 2 1/2 bath home features open concept, expanded kitchen with full height pantry cabinets, stainless steel appliances, breakfast bar, dedicated laundry room, new tile surround in bathrooms, new luxury vinyl plank flooring, and new carpeting. Resort style backyard newly landscaped, artificial turf, pool, and newly tiled covered patio. Perfect location with easy access to Old Town Scottsdale, Phoenix Sky Harbor Airport, and Spring Training. Hurry, this won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pointe Scottsdale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Pointe Scottsdale

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
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
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$2,085
Property Tax -$264
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$154

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.

$565,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.8%
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$1.8M

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$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$27,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $2,343

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,2503$2,2504$2,3505$2,575
$2,575
RENT COMPS ANALYSIS
  • 8409 E Indianola Avenue Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.57
    •  
  • 3940 N Granite Reef Road Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1969
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.38
    •  
  • 3714 N Granite Reef Road Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.59
    •  
  • 8350 E Indianola Avenue Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1958
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.59
    •  
  • 8207 E Indianola Avenue Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1958
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $1.70
    •  
PROPERTY LISTING DETAILS
Wendy Lynn Laven
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166384
Last Updated: 12/19/2020
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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