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947 N 87th Way Scottsdale, AZ 85257

2 Beds 2 Baths 1,185 sqft Built 1977

$375,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $316.46
  • 2 Days on Market
  • MLS # : 6203401
  • Updated Date : 03/06/2021 at 06:05
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,185 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Don't miss out on this MOVE-IN ready, Impeccably maintained single level home in sought after Trails at Scottsdale community in Scottsdale. This charming 2 BR, 2BA w/ 2-car garage home is nestled on a quiet cul-de-sac street w/ plenty of privacy. Home boasts light and bright Kitchen w/ ample cabinet space, Quartz counter, beautiful Tile Backsplash, Island & SS Appliances. Fabulous layout where Eat-in Kitchen opens to LV/Great Room. Spacious Master Bedroom w/ en-suite Master Bath & walk-in closet. Huge backyard is an entertainer's delight complete w/ covered patio, fire pit patio area, built-in bar, storage shed, & plenty of space for a pool. THIS HOME WILL NOT last! Close to 101/202, Scottsdale Greenbelt, Old Town & Tempe Market Place.

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
Coronado High School High Unknown NA

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

Coronado High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,303
Property Tax -$175
Property Insurance -$50
HOA -$6
Property Management Fees -$99
CASH FLOW
$66

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.

$375,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,6004$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 947 N 87th Way Scottsdale, AZ 4
    • 2 beds 2 baths ∙ 1,185 Sqft ∙ Built 1977 2 beds 2 baths ∙ 1,185 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.43
    •  
  • 1048 N 85th Place Scottsdale, AZ 1
    • 2 beds 1 baths ∙ 936 Sqft ∙ Built 1972 2 beds 1 baths ∙ 936 Sqft ∙ Built 1972
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.39
    •  
  • 1255 N Granite Reef Road Scottsdale, AZ 2
    • 2 beds 2 baths ∙ 1,010 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,010 Sqft ∙ Built 1981
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.38
    •  
  • 985 N Granite Reef Road #163 Scottsdale, AZ 3
    • 2 beds 3 baths ∙ 1,145 Sqft ∙ Built 1985 2 beds 3 baths ∙ 1,145 Sqft ∙ Built 1985
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.40
    •  
  • 812 N 86th Place Scottsdale, AZ 5
    • 2 beds 2 baths ∙ 1,209 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,209 Sqft ∙ Built 1978
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.53
    •  
PROPERTY LISTING DETAILS
Nicole Kistner
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203401
Last Updated: 03/06/2021
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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