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8756 E Monterey Way Scottsdale, AZ 85251

4 Beds 2 Baths 2,558 sqft Built 1974

$875,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $342.06
  • 3 Days on Market
  • MLS # : 6174690
  • Updated Date : 01/22/2021 at 14:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,558 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

One of the most beautiful properties you will come across in South Scottsdale. Fully gutted & permitted, everything is new from the AC units, water heater, plumbing, electrical, etc. As you walk through the front door soaring raised ceilings create a grand entrance into an open concept floor plan with a gourmet chef's kitchen. A 12 foot quartz waterfall island, brand new soft close cabinets, and stainless steel appliances. The split floorplan has the master suite on the east side of the home, with a jaw dropping master bathroom equipped with a full wet room; double shower heads, ceiling rain shower, and freestanding tub. French doors open to the backyard that is newly paved & landscaped. Not to mention you are on a very quiet & private cul-de-sac!

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
 

$787,500$962,500$875,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$3,039
Property Tax -$409
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$774

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.

$875,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.33%

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

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$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,522

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
  • $3,351

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$3,0004$3,4005$3,495
$3,495
RENT COMPS ANALYSIS
  • 8756 E Monterey Way Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 2,558 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,558 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8330 E Monterey Way Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 2,358 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,358 Sqft ∙ Built 1963
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
  • 3901 N 86th Street Scottsdale, AZ 3
    • 4 beds 4 baths ∙ 2,390 Sqft ∙ Built 1971 4 beds 4 baths ∙ 2,390 Sqft ∙ Built 1971
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.26
    •  
  • 8731 E Monterey Way Scottsdale, AZ 4
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1974 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1974
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.44
    •  
  • 4001 N 86th Street Scottsdale, AZ 5
    • 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971 4 beds 4 baths ∙ 2,360 Sqft ∙ Built 1971
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.48
    •  
PROPERTY LISTING DETAILS
Tanya Toliver
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174690
Last Updated: 01/22/2021
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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