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881 N 87th Place Scottsdale, AZ 85257

3 Beds 2 Baths 1,678 sqft Built 1978

$470,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $280.10
  • 5 Days on Market
  • MLS # : 6165694
  • Updated Date : 12/01/2020 at 21:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,678 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Charming, updated home located on a CORNER LOT in the heart of South Scottsdale. This stylish 3 BEDROOM, 2 BATH home, with a Pebble-Tech Pool, features an open floor plan with a large living area, and beautiful kitchen and bathrooms updated with modern finishes including quartz countertops. The spacious dining area and family room with a cozy fireplace provide easy access to the large, covered patio and backyard pool. The master bedroom features a walk-in closet and private access to a peaceful atrium hideaway. The 3rd bedroom is currently used as an office and the split floor plan makes working from home easy. Don't miss out on this beautiful, well maintained home, located minutes from the 101 & 202, and surrounded by walking/jogging paths.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Trails at Scottsdale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k465k

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

Neighborhood: Trails at Scottsdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10452993

* 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
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,734
Property Tax -$220
Property Insurance -$60
HOA -$6
Property Management Fees -$99
CASH FLOW
-$189

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.

$470,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$17,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,098

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8953$1,9004$1,9305$1,995
$1,995
RENT COMPS ANALYSIS
  • 881 N 87th Place Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.15
    •  
  • 955 N 87th Street Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1977
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.18
    •  
  • 809 N 86th Place Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1978
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.24
    •  
  • 893 N Roosevelt Circle Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1978
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.24
    •  
  • 821 N 86th Place Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1978
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.34
    •  
PROPERTY LISTING DETAILS
Cathy Mccullough
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165694
Last Updated: 12/01/2020
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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