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9011 E Palm Ridge Drive Scottsdale, AZ 85260

4 Beds 3 Baths 2,632 sqft Built 1991

$699,900

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $265.92
  • 6 Days on Market
  • MLS # : 6158674
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,632 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Gorgeous, COMPLETEY remodeled home in Eagle Point, designed by SoHome. Spacious, open floor plan with 2632 Sq Ft home with community pool. Every surface has been refreshed from the new wood tile floors, shaker cabinets, quartz counter tops, new windows, plumbing and fixtures, lighting, carpet, paint, landscaping... the list goes on. A/C's and roof recently replaced, hot water heater brand new. This home is turn key and needs nothing. Large kitchen open to the great room with white washed brick fireplace. Half bath downstairs for guests. 3 large guest/kid bedrooms upstairs. Large Master is also upstairs with huge walk-in shower. Nice backyard with natural grass, and covered patio. Three car garage with new epoxy floor. Great neighborhood close to everything and easy 101 access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eagle Point

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k465k

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

Neighborhood: Eagle Point

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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,582
Property Tax -$327
Property Insurance -$78
HOA -$30
Property Management Fees -$99
CASH FLOW
-$517

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.

$699,900

PROJECTED PRICE

$2,600

PROJECTED RENT

0.37%

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$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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$11,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,994

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9003$2,9504$3,0005$3,295
$3,295
RENT COMPS ANALYSIS
  • 9011 E Palm Ridge Drive Scottsdale, AZ 1
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 8945 E Voltaire Drive Scottsdale, AZ 2
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1986 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1986
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.08
    •  
  • 9118 E Davenport Drive Scottsdale, AZ 3
    • 5 beds 3 baths ∙ 2,628 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,628 Sqft ∙ Built 1988
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.12
    •  
  • 9075 E Conieson Road Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 1992
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.14
    •  
  • 9094 E Pine Valley Road Scottsdale, AZ 5
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 1991
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.21
    •  
PROPERTY LISTING DETAILS
Cassandra Sanford
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158674
Last Updated: 11/13/2020
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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