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8743 E Palm Lane Scottsdale, AZ 85257

4 Beds 2 Baths 1,936 sqft Built 1960

$429,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $222.06
  • 2 Days on Market
  • MLS # : 6157768
  • Updated Date : 11/07/2020 at 16:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,936 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

This charming home is located in a highly desirable South Scottsdale neighborhood. It is close to the 101 Fwy , schools and restaurants. This spacious home features a formal living room, family room, Arizona room and a large washer/dryer room/workshop. Other features are dual paned windows and a pull down ladder in the garage for easy access to the attic. Extended slab for additional parking.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Estates Twelve

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k465k

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

Neighborhood: Scottsdale Estates Twelve

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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,586
Property Tax -$201
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
$399

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.

$429,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 14.5%
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$0.0$5.0k$10k$15k$20k$25k$30k

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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$80,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,778

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,6004$2,6005$3,150
$3,150
RENT COMPS ANALYSIS
  • 8743 E Palm Lane Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.21
    •  
  • 8209 E Sheridan Street Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1959
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.21
    •  
  • 8208 E Sheridan Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1959
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.44
    •  
  • 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
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.44
    •  
  • 2330 N Granite Reef Road Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1959
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.65
    •  
PROPERTY LISTING DETAILS
David Carlson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157768
Last Updated: 11/07/2020
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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