Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8431 E Lewis Avenue Scottsdale, AZ 85257

3 Beds 2 Baths 1,676 sqft Built 1960

$590,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $352.03
  • 2 Days on Market
  • MLS # : 6206841
  • Updated Date : 03/13/2021 at 04:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

ONE-OF-A-KIND CONTEMPORARY STUNNER IN THE HEART OF SOUTH SCOTTSDALE'S MOST IN-DEMAND NEIGHBORHOOD. RECENTLY INSTALLED TESLA SOLAR SYSTEM W/ 2 POWER WALL BATTERIES AND TESLA CHARGER INCLUDED WITH NO CUMBERSOME LEASES. OVERSIZED MASTER RETREAT W/ LARGE CUSTOM CLOSET, DUAL SINKS, SEXY WALK-IN SHOWER, COZY WINDOW SEAT AND AMAZING NATURAL LIGHT. METALLIC EPOXY FLOORS, SLEEK CABINETRY AND APPLIANCES, INCREDIBLE OUTDOOR LIVING SPACE AND ALL THE LATEST SECURITY AND HOME CONTROL TECHNOLOGIES. AC RECENTLY SERVICED AND ALL DUCTWORK CLEANED, SEALED AND SANITIZED. PERFECT SOUTH SCOTTSDALE LOCATION MINUTES TO OLD TOWN SCOTTSDALE AND FASHION SQUARE MALL, TEMPE TOWN LAKE, ASU, EL DORADO PARK, GREENBELT TRAIL SYSTEM, SKYSONG, DIAMONDBACKS AND CUBS SPRING TRAINING COMPLEXES AND SKY HARBOR AIRPORT.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Estates Ten

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Scottsdale Estates Ten

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
Hohokam Traditional School Primary Regular 432 30 6
Coronado High School High Regular 1,039 61 2
Coronado High School High Unknown NA

Hohokam Traditional School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 30
6
GreatSchools Rating

Coronado High School

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

Coronado High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$2,049
Property Tax -$276
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$334

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.

$590,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.1%
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-$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$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$13,088

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
  • $2,158

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,2504$2,3755$2,450
$2,450
RENT COMPS ANALYSIS
  • 8431 E Lewis Avenue Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8649 E Roanoke Avenue Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1960
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.20
    •  
  • 8638 E Virginia Avenue Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1960
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.24
    •  
  • 8212 E Wilshire Drive Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1959
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.33
    •  
  • 8511 E Cambridge Avenue Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1961
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.38
    •  
PROPERTY LISTING DETAILS
Glen Forbes
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206841
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.

BESbswy