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8608 E Palm Lane Scottsdale, AZ 85257

4 Beds 2 Baths 1,698 sqft Built 1961

$394,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $232.04
  • 2 Days on Market
  • MLS # : 6160543
  • Updated Date : 11/14/2020 at 15:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,698 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

COME SEE THE POTENTIAL!! NEEDS A LITTLE TLC, AND IT WILL BE A CHARMER!! THIS HOME IS IN A VERY POPULAR PART OF SOUTH SCOTTSDALE, JUST A FEW MINUTES FROM DOWNTOWN. 3 BEDROOMS, 2 BATHS, 4TH BEDROOM IS FROM CONVERTED GARAGE, BUT COULD BE CONVERTED BACK AND STILL HAVE A 4TH BEDROOM. OPEN FAMILY ROOM, LARGE BACKYARD. SOLD AS-IS, ADD YOUR TOUCHES, AND CALL IT HOME!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cox Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Cox Heights

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
 

$354,600$433,400$394,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,454
Property Tax -$184
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
$213

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.

$394,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.9%
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

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$110,160

INVESTMENT

$110,160

Down Payment
$98,500
Rehab Estimate
$5,750
Closing Costs
$5,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,454

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,500
Loan Amount $295,500
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$54,456

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
  • $2,428

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9503$2,3004$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 8608 E Palm Lane Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8432 E Lewis Avenue Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1960
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.27
    •  
  • 8608 E Vernon Avenue Scottsdale, AZ 3
    • 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 1960
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 8233 E Hubbell Street Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1960
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.44
    •  
  • 8715 E Holly Street Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1961
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.64
    •  
PROPERTY LISTING DETAILS
Linda Johnson
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160543
Last Updated: 11/14/2020
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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