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8433 E Vernon Avenue Scottsdale, AZ 85257

3 Beds 2 Baths 1,676 sqft Built 1960

$549,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $328.10
  • 1 Days on Market
  • MLS # : 6210208
  • Updated Date : 03/21/2021 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This lovely 3 bed, 2 bath has been tastefully remodeled and offers many upgrades. Kitchen and bathrooms remodeled in 2019. The dual pane windows and 14 Seer Trane A/C (2016) help with energy efficiency. The immaculate kitchen has custom soft close real wood cabinets with slide out shelves, high-end SS appls, quartz counters, breakfast bar, a workstation sink and breakfast nook. The spacious owner's room has a walk-in closet and a lavish bathroom with dual vanity & floor-to-ceiling tiled shower. Travertine flooring t/o and brand new carpet in the bedrooms. Newer patio roof (2019) and main roof (2010). The backyard features a covered patio and green lawn perfect to relax after a long day while enjoying your favorite beverage. Close to many of Scottsdale's highly desirable attractions.

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
 

$494,910$604,890$549,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,910
Property Tax -$257
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$286

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.

$549,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.37%

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$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

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$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$13,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,229

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,2503$2,3004$2,3755$2,450
$2,450
RENT COMPS ANALYSIS
  • 8433 E Vernon 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
    •  
    • $2,040
    • $1.22
    •  
  • 8638 E Virginia Avenue Scottsdale, AZ 2
    • 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
    •  
  • 8608 E Vernon Avenue Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 1960
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 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
Mark Meekins
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6210208
Last Updated: 03/21/2021
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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