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8847 E Friess Drive Scottsdale, AZ 85260

3 Beds 2 Baths 1,500 sqft Built 1985

$449,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $299.93
  • 3 Days on Market
  • MLS # : 6178391
  • Updated Date : 01/08/2021 at 07:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

On Q Property Management

Listing Agent's Description

Come see this amazing 3-bed + bonus room, 2 bath home in North Scottsdale with a private pool and upgrades galore! The interior features an open, split floorplan with vaulted ceilings, new flooring & kitchen appliances (2018), custom closet systems throughout, a fireplace, and more! In addition, other major improvements include a newly remodeled bathroom (2020), new plumbing from the meter to the house (2020), a new RV gate (2020), newer HVAC unit (2018), a private salt-water self-cleaning pool w/ an endless swimming system (2015), a newer roof (2015), and ... and the list goes on! Come see it today!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Scottsdale Vista North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Scottsdale Vista North

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
Redfield Elementary School Primary Regular 513 33 8
Desert Canyon Middle School Middle Regular 566 29 8
Desert Mountain High School High Regular 2,247 94 8

Redfield Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 33
8
GreatSchools Rating

Desert Canyon Middle School

  • Education Level: Middle
  • # of students: 566
  • # of teachers: 29
8
GreatSchools Rating

Desert Mountain High School

  • Education Level: High
  • # of students: 2,247
  • # of teachers: 94
8
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,563
Property Tax -$210
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
$42

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.

$449,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$30,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,969

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,9703$1,9954$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 8847 E Friess Drive Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.31
    •  
  • 8830 E Sheena Drive Scottsdale, AZ 1
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1985
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.17
    •  
  • 14524 N 91st Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1985
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.34
    •  
  • 8897 E Gray Road Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1984
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.40
    •  
  • 8952 E Palm Ridge Drive Scottsdale, AZ 5
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1986
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.34
    •  
PROPERTY LISTING DETAILS
Eric Dixon
On Q Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178391
Last Updated: 01/08/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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