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8620 E Laredo Lane Scottsdale, AZ 85250

3 Beds 2 Baths 1,710 sqft Built 1961

$569,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $332.75
  • 3 Days on Market
  • MLS # : 6161644
  • Updated Date : 11/20/2020 at 14:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,710 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Fully remodeled in 2018. Includes all new plumbing and electrical system, new sewer lines out to city main, 200A electrical panel. Interior features include teak plank flooring, solid wood white shaker cabinets, 40'' upper cabinets, SS Samsung appliances, granite countertops. Master bedroom and ensuite addition in 2018 was fully permitted and inspected. Spacious kitchen island with contemporary pendant lighting. Split master suite with private entry to back patio through new double French doors. Spacious north-facing covered patio features pine tongue-and-groove ceiling, dimmable LED lighting, and 2 ceiling fans for year round entertaining. High-efficiency Milgard windows in master suite and 2nd bedroom.

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
 

$512,100$625,900$569,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,099
Property Tax -$266
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$195

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.

$569,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$26,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $2,330

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2504$2,3305$2,350
$2,350
RENT COMPS ANALYSIS
  • 8620 E Laredo Lane Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.36
    •  
  • 8522 E Montebello Avenue Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1964
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.33
    •  
  • 5820 N 86th Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1962
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.36
    •  
  • 5904 N Granite Reef Road Scottsdale, AZ 3
    • 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
    •  
  • 8750 E Starlight Way Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1962
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.48
    •  
PROPERTY LISTING DETAILS
Richard Turner
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161644
Last Updated: 11/20/2020
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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