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

8602 E Highland Avenue Scottsdale, AZ 85251

4 Beds 3 Baths 2,306 sqft Built 1960

$759,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $329.14
  • 2 Days on Market
  • MLS # : 6194041
  • Updated Date : 03/13/2021 at 17:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,306 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Mid century masterpiece. An impeccable modern remodel in prime south Scottsdale location with a mother in-laws suite .Minutes from old town Scottsdale shopping and restaurants. This a one of a kind with all the essential updates.New AC, Roof, kitchen, baths, flooring etc, This home a spacious great room and dinning room perfect for entertaining. The master suite is expansive including a dream closet. The luxurious master bath boasts a custom tile shower with rain head, and a deep soaker tub.and electric fireplace NO HOA. Don't miss this opportunity.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Estates Fourteen

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Scottsdale Estates Fourteen

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
Pueblo Elementary School Primary Regular 492 28 9
Mohave Middle School Middle Regular 816 48 7
Saguaro High School High Regular 1,316 63 7

Pueblo Elementary School

  • Education Level: Primary
  • # of students: 492
  • # of teachers: 28
9
GreatSchools Rating

Mohave Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 48
7
GreatSchools Rating

Saguaro High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 63
7
GreatSchools Rating
 

$683,100$834,900$759,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,636
Property Tax -$355
Property Insurance -$72
Property Management Fees -$99
CASH FLOW
-$252

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.

$759,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 12.9%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$206,885

INVESTMENT

$206,885

Down Payment
$189,750
Rehab Estimate
$5,750
Closing Costs
$11,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,636

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $189,750
Loan Amount $569,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$25,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $3,396

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$2,910
1$2,9102$3,0003$3,3504$3,4955$3,500
$3,500
RENT COMPS ANALYSIS
  • 8602 E Highland Avenue Scottsdale, AZ 1
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.26
    •  
  • 4520 N 82nd Street Scottsdale, AZ 2
    • 4 beds 4 baths ∙ 2,210 Sqft ∙ Built 1973 4 beds 4 baths ∙ 2,210 Sqft ∙ Built 1973
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.36
    •  
  • 8555 E Roma Avenue Scottsdale, AZ 3
    • 4 beds 4 baths ∙ 2,200 Sqft ∙ Built 1966 4 beds 4 baths ∙ 2,200 Sqft ∙ Built 1966
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.52
    •  
  • 4001 N 86th Street Scottsdale, AZ 4
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.48
    •  
  • 8708 E Rancho Vista Drive Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1960
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.53
    •  
PROPERTY LISTING DETAILS
Darrell Martin
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194041
Last Updated: 03/13/2021
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