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8742 E Double Eagle Drive Carefree, AZ 85377

3 Beds 2 Baths 2,312 sqft Built 1974

INVESTimate

$850,000

List Price

$2,640

$2,390 - $2,890

Rent Est.

$876,350  ( +3.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $367.65
  • 3 Days on Market
  • MLS # : 6122092
  • Updated Date : 08/25/2020 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,312 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Extensively renovated and updated! Classic Carefree charmer meets Mid Century Modern design in this jewel of the desert, on 1.3 acres, no HOA. A paver drive, lined with mature native vegetation, welcomes you Home. Beyond the beautiful custom glass door is the thoughtfully designed Great Room open floor plan blending indoor/outdoor living, Kitchen and Dining. Cooking is a pleasure in a modern Kitchen with premium appliances, Wolf Induction cooktop and Neff custom cabinets. Enjoy a beautiful Master Retreat with gorgeous metal countertops and large custom tiled shower. Relaxation is effortless by the full sunshine or under the shady patio. Gaze at starry nights by the outdoor firepit. A long list of improvements including Sonos Sound System and designer lighting is available.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Carefree Fore

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $122k810k

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

Neighborhood: Carefree Fore

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10453589

* 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
Black Mountain Elementary School Primary Regular 463 29 8
Sonoran Trails Middle School Middle Regular 841 39 9
Cactus Shadows High School High Regular 1,704 70 8

Black Mountain Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
8
GreatSchools Rating

Sonoran Trails Middle School

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 39
9
GreatSchools Rating

Cactus Shadows High School

  • Education Level: High
  • # of students: 1,704
  • # of teachers: 70
8
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

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-$15k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$3,136
Property Tax -$329
Property Insurance -$72
Property Management Fees -$99
CASH FLOW
-$996

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.

$850,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,120

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
  • $2,705

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,650
$2,650
RENT COMPS ANALYSIS
  • 8742 E Double Eagle Drive Carefree, 1
    • 3 beds 2 baths ∙ 2,312 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,312 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8961 E Venus Drive Carefree, 2
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1980
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.17
    •  
PROPERTY LISTING DETAILS
Debbie Omundson
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122092
Last Updated: 08/25/2020
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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