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8613 E Berridge Lane Scottsdale, AZ 85250

3 Beds 2 Baths 1,904 sqft Built 1964

$750,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $393.91
  • 4 Days on Market
  • MLS # : 6206967
  • Updated Date : 03/26/2021 at 21:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full
Listing Agent

Retsy

Listing Agent's Description

The vaulted ceilings and open floor plan welcome you as you enter the home. All of the designer finishes were chosen carefully with on-trend grey and white tones. The living room is filled with natural light from the large window out to the front patio - a perfect place to enjoy your morning cup of coffee. The kitchen is as pretty as it is functional with a large island, pull out drawers, stainless steel appliances and subway tile backsplash. The dining area is ample size with views to your backyard through the sliding door. The master suite has everything you could need. The bathroom features dual vanities, soaking tub, large shower, water closet, walk-in closet. The master suite also includes a seating area and doors to private patio. The guest bathroom features a floating vanity

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
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
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,605
Property Tax -$351
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$689

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.

$750,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.32%

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

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,637

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4303$2,6954$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 8613 E Berridge Lane Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.28
    •  
  • 5904 N Granite Reef Road Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 1975
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.28
    •  
  • 8207 E Montebello Avenue Scottsdale, AZ 3
    • 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1970
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.45
    •  
  • 8725 E Palo Verde Drive Scottsdale, AZ 4
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 1962
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.35
    •  
  • 8232 E Valley View Road Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1970
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.46
    •  
PROPERTY LISTING DETAILS
Chrissy Heller
Retsy
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206967
Last Updated: 03/26/2021
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.

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