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8726 E Monterey Way Scottsdale, AZ 85251

3 Beds 2 Baths 1,832 sqft Built 1974

INVESTimate

$550,000

List Price

$2,160

$1,944 - $2,376

Rent Est.

$597,245  ( +8.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $300.22
  • 4 Days on Market
  • MLS # : 6121076
  • Updated Date : 08/24/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,832 sqft
  • Baths : 2 full
Listing Agent

Re/max Excalibur

Listing Agent's Description

Perfectly located 3 bedroom 2 bathroom, 1832 SF home next to everything South Scottsdale has to offer! Light, bright, open concept living highlight this split floor plan that features a built in wine fridge, updated flooring, kitchen, and bathrooms. Large lot to spread out over and the backyard is a perfect area to relax and enjoy the outdoors. Amazing location, near old town Scottsdale, schools, restaurants, and the 101. This house checks all the boxes so hurry before it goes quickly!

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
Pima Elementary School Primary Regular 565 34 8
Coronado High School High Regular 1,039 61 2

Pima Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 34
8
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 1,039
  • # of teachers: 61
2
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

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$1.8M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$2,029
Property Tax -$257
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$288

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.

$550,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$17,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,162

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,1604$2,1755$2,350
$2,350
RENT COMPS ANALYSIS
  • 8726 E Monterey Way Scottsdale, 3
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.18
    •  
  • 8649 E Roanoke Avenue Scottsdale, 1
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1960
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.20
    •  
  • 8638 E Whitton Avenue Scottsdale, 2
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1970
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.07
    •  
  • 8637 E Mulberry Street Scottsdale, 4
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1970
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.17
    •  
  • 8626 E Angus Drive Scottsdale, 5
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1971
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.28
    •  
PROPERTY LISTING DETAILS
Monique Walker
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121076
Last Updated: 08/24/2020
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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