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

8445 E Fairmount Avenue Scottsdale, AZ 85251

3 Beds 2 Baths 2,053 sqft Built 1966

$645,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $314.17
  • 1 Days on Market
  • MLS # : 6187987
  • Updated Date : 01/31/2021 at 00:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,053 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Please see detailed instructions on showings. Absolutely gorgeous remodeled home on a corner lot in one of the best locations in Scottsdale! Enjoy cooking in the oversized chef's kitchen with quartz countertops on a grand island, SS appliances, wine fridge, pendant lighting and formal dining area. Plantation shutters throughout the home, wood plank tile floors, French doors to a charming and spacious tiled Arizona room and a private backyard. Backyard has synthetic grass, firepit, in ground spa and a storage shed. The master suite has a romantic fireplace, recessed lighting, floating vanity, large walk in steam shower and walk in closet. This home is close to downtown Scottsdale with world renowned restaurants and shopping! Seller exercised a 2 yr lease to purchase option in Oct .

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 Primary Unknown NA

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

Pima Elementary School

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

$580,500$709,500$645,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,240
Property Tax -$302
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$208

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.

$645,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$22,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,515

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3803$2,5004$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 8445 E Fairmount Avenue Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 1966 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.22
    •  
  • 8705 E Monterosa Avenue Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1969
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 8341 E Mackenzie Drive Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1959
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.24
    •  
  • 8647 E Devonshire Avenue Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1969
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.22
    •  
  • 8337 E Fairmount Avenue Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1958 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1958
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.32
    •  
PROPERTY LISTING DETAILS
Tiffany Carlson-richison
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187987
Last Updated: 01/31/2021
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