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PROPERTY INFO
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 .
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PRICE & RENT TRENDS
Neighborhood: Pointe Scottsdale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pointe Scottsdale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$176,675
LOAN DETAILS
$2,240
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $161,250 |
| Loan Amount | $483,750 |
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
-
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
Realty One Group
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6187987
Last Updated: 01/31/2021
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.
