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8787 E Mountain View Road #1116 Scottsdale, AZ 85258

1 Beds 1 Baths 812 sqft Built 1985

$219,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $269.70
  • 2 Days on Market
  • MLS # : 6155210
  • Updated Date : 11/02/2020 at 15:22
CONSTRUCTION
  • Beds : 1
  • Floor Size : 812 sqft
  • Baths : 1 full
Listing Agent

Metropolitan Real Estate

Listing Agent's Description

***JUST LISTED***Perfectly located near lots of amazing resturants & entertainment in the prestigious community of Rancho Antigua. This Beautiful Condo has a well designed floor plan that includes a spacious bedroom w/ walk-in closet & bathroom. Upon Entry, your Living room will set the tone with its inviting & cozy fireplace to compliement the NEW wood plank tile throughout the home. Eat in kitchen offers all appliances along with plenty of cabinet and granite counter top space. Laundry room equipped with full size washer and dryer so you do not have to go anywhere. The Community offers many amenities such as tennis courts, 3 pools, spas, clubhouse, fitness center, & dry sauna. Not to mention, you'll be right next door to the miles of bike trails that McCormick Ranch has to offer.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: McCormick Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k506k

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

Neighborhood: McCormick Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10453368

* 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
Cochise Elementary School Primary Regular 579 33 10
Cocopah Middle School Middle Regular 899 43 9
Chaparral High School High Regular 2,053 87 7

Cochise Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 33
10
GreatSchools Rating

Cocopah Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 43
9
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,053
  • # of teachers: 87
7
GreatSchools Rating
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$808
Property Tax -$102
Property Insurance -$43
HOA -$242
Property Management Fees -$99
CASH FLOW
-$144

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.

$219,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$2,971

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
  • $1,151

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,0953$1,0954$1,2005$1,250
$1,250
RENT COMPS ANALYSIS
  • 8787 E Mountain View Road #1116 Scottsdale, AZ 1
    • 1 beds 1 baths ∙ 812 Sqft ∙ Built 1985 1 beds 1 baths ∙ 812 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8787 E Mountain View Road #2022 Scottsdale, AZ 2
    • 1 beds 1 baths ∙ 826 Sqft ∙ Built 1985 1 beds 1 baths ∙ 826 Sqft ∙ Built 1985
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.33
    •  
  • 8787 E Mountain View Road #2038 Scottsdale, AZ 3
    • 1 beds 1 baths ∙ 812 Sqft ∙ Built 1985 1 beds 1 baths ∙ 812 Sqft ∙ Built 1985
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.35
    •  
  • 8787 E Mountain View Road #1074 Scottsdale, AZ 4
    • 1 beds 1 baths ∙ 826 Sqft ∙ Built 1985 1 beds 1 baths ∙ 826 Sqft ∙ Built 1985
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.45
    •  
  • 9340 N 92nd Street #116 Scottsdale, AZ 5
    • 1 beds 1 baths ∙ 814 Sqft ∙ Built 1983 1 beds 1 baths ∙ 814 Sqft ∙ Built 1983
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.54
    •  
PROPERTY LISTING DETAILS
Robert J Bundrick
Metropolitan Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155210
Last Updated: 11/02/2020
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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