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

8531 E Monterey Way Scottsdale, AZ 85251

4 Beds 2 Baths 2,397 sqft Built 1968

$829,000

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $345.85
  • 2 Days on Market
  • MLS # : 6203424
  • Updated Date : 03/06/2021 at 21:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,397 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

Incredible home close to Old Town Scottsdale, spring training, great shopping, restaurants and a second to none system of connected parks. You will find amazing attention to detail and lots of custom finishes both inside and outside of this 4-bedroom 3-bathroom home with a very livable split floor-plan. The details start in the front of the home with a clapboard front, custom built cedar shutters, Phoenix Brick front patio, 46'' front door with leaded glass and a roof pitch not found on any other home in the neighborhood. The inside of the home has recently update bathrooms with full glass tile enclosures, shaker style cabinets, update kitchen with newer stainless-steel appliances, quartz counter-tops, stainless steel sink, custom window pop-out in kitchen and farmhouse style sink.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Indian Bend

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Indian Bend

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
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
 

$746,100$911,900$829,000

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$2,879
Property Tax -$402
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$525

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.

$829,000

PROJECTED PRICE

$2,930

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.6%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,435

INVESTMENT

$225,435

Down Payment
$207,250
Rehab Estimate
$5,750
Closing Costs
$12,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,879

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $207,250
Loan Amount $621,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$15,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $3,140

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6503$2,9304$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 8531 E Monterey Way Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 2,397 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,397 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $1.22
    •  
  • 8330 E Monterey Way Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 2,358 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,358 Sqft ∙ Built 1963
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
  • 3031 N 81st Place Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 1968
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.17
    •  
  • 8631 E Osborn Road Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 1970
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.45
    •  
  • 3144 N 84th Place Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1967
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.56
    •  
PROPERTY LISTING DETAILS
Jonathan Miller
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203424
Last Updated: 03/06/2021
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