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8535 E Edgemont Avenue Scottsdale, AZ 85257

4 Beds 2 Baths 2,228 sqft Built 1960

$376,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $168.76
  • 5 Days on Market
  • MLS # : 6158993
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,228 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

INVESTORS!!! Location, Location, Location. This is a perfect flip or buy and hold opportunity. Extremely strong comps in the neighborhood for both flipping and renting. Whatever you're looking to do you don't want to miss out on this one. THIS HOME IS BEING SOLD USING AN ONLINE BIDDING PLATFORM only available to tour during open house. 11/14 1pm to 4pm, 11/15 11am to 2pm, 11/21 1pm to 4pm, 11/22 11am to 2pm

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

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
 

$338,400$413,600$376,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,387
Property Tax -$190
Property Insurance -$71
Property Management Fees -$99
CASH FLOW
$483

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.

$376,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,390

INVESTMENT

$105,390

Down Payment
$94,000
Rehab Estimate
$5,750
Closing Costs
$5,640

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,387

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,000
Loan Amount $282,000
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$84,719

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
  • $2,573

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3953$2,5004$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 8535 E Edgemont Avenue Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8419 E Virginia Avenue Scottsdale, AZ 2
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1960
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.06
    •  
  • 8330 E Monterey Way Scottsdale, AZ 3
    • 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 4
    • 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 1968
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.17
    •  
  • 8233 E Hubbell Street Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1960
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.33
    •  
PROPERTY LISTING DETAILS
Gregory Moulton
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158993
Last Updated: 11/13/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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