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8901 N 87th Court Scottsdale, AZ 85258

4 Beds 2 Baths 2,620 sqft Built 1982

$1,250,000

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $477.10
  • 4 Days on Market
  • MLS # : 6199131
  • Updated Date : 02/26/2021 at 17:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,620 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

One of a kind McCormick Ranch renovation! Home is nestled in the center of a cul-de-sac in this highly coveted neighborhood. Immaculate home, meticulously maintained. This isn't a mere remodel, but a total floor to ceiling transformation, including a brand new roof (December 2020), exterior paint (November 2020), all new doors and windows (Fall 2020). With one of the most welcoming front entries around, lots of windows and lighting exude brightness. 4 bedroom, 2 bath, including one bedroom with its own entry- perfect for a home office/gym/guest room. Brand new landscape in front and back, very low maintenance. Huge10-foot deep swimming pool with new tile. If you are looking for a true turn-key home, with nothing left to do but move in, look no further. Furniture and art work are available.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tierra Nueva

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $122k670k

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

Neighborhood: Tierra Nueva

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10453126

* 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
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,360
EXPENSES Loan Payment -$4,342
Property Tax -$585
Property Insurance -$78
HOA -$2
Property Management Fees -$99
CASH FLOW
-$1,745

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.

$1,250,000

PROJECTED PRICE

$3,360

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,342

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$168

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
  • $3,753

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,6004$3,9955$4,000
$4,000
RENT COMPS ANALYSIS
  • 8901 N 87th Court Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 2,620 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,620 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8507 E Welsh Trail Scottsdale, AZ 2
    • 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1984
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.27
    •  
  • 8714 E San Lorenzo Drive Scottsdale, AZ 3
    • 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1981
    property image
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.33
    •  
  • 8108 E Del Joya Drive Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1979
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.65
    •  
  • 8528 E Clydesdale Trail Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1979
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.48
    •  
PROPERTY LISTING DETAILS
Brent Epting
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199131
Last Updated: 02/26/2021
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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