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8876 E Surrey Avenue Scottsdale, AZ 85260

3 Beds 3 Baths 2,432 sqft Built 1990

$675,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $277.55
  • 2 Days on Market
  • MLS # : 6157651
  • Updated Date : 11/07/2020 at 11:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,432 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prestige Realty

Listing Agent's Description

Elegant and luxurious Scottsdale 3 bd 2.5 bathroom, 3 car garage, home close to entertainment, wonderful schools, parks, and all Scottsdale has to offer! Property has a wonderful split floorplan, large spaces, high ceilings, lots of natural light and cozy fireplace!The elegant nice sized kitchen features stainless appliances, lots of (high end) cabinets, wine refrigerator/bar area, wall ovens and island! When you the home's foyer, you see the wonderful living room, two grand pillars and have a wonderful view of the elegant backyard! You have access to stunning and very private backyard from master and living areas to enjoy the pool, mature citrus and lush plants (grape vine, fig, etc)! This home has a lot to offer!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Parc

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k570k

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

Neighborhood: Vista Parc

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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,490
Property Tax -$316
Property Insurance -$75
HOA -$6
Property Management Fees -$99
CASH FLOW
-$435

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.

$675,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.7%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,597

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
  • $2,651

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4503$2,5004$2,6505$2,666
$2,666
RENT COMPS ANALYSIS
  • 8876 E Surrey Avenue Scottsdale, AZ 1
    • 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9175 E Camino Del Santo Road Scottsdale, AZ 2
    • 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 1992
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.09
    •  
  • 8927 E Floriade Drive Scottsdale, AZ 3
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1991
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.07
    •  
  • 9220 E Dreyfus Place Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1993
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.13
    •  
  • 9045 E Aster Drive Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 1988
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,666
    • $1.07
    •  
PROPERTY LISTING DETAILS
Teo Cupes
Prestige Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157651
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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