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974 N 85th Street Scottsdale, AZ 85257

3 Beds 2 Baths 1,815 sqft Built 1980

$420,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $231.40
  • 3 Days on Market
  • MLS # : 6165200
  • Updated Date : 11/28/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,815 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

FABULOUS LOCATION IN SOUTH SCOTTSDALE, 3 BEDROOM 2 BATH 2 CAR GARAGE AND A LARGE PEBBLE TECH POOL. LIVING ROOM HAS A FIREPLACE. MASTER BEDROOM HAS A WALK IN CLOSET. BACKYARD HAS VERY LOW MAINTENANCE. HOME IS CLOSE TO THE 101, 202 AND OLD TOWN SCOTTSDALE AND TEMPE MARKETPLACE.....LOTS OF SHOPPING CLOSE BY.

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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

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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,550
Property Tax -$196
Property Insurance -$63
HOA -$6
Property Management Fees -$99
CASH FLOW
$256

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.

$420,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.52%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$58,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,459

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,1704$2,3005$2,600
$2,600
RENT COMPS ANALYSIS
  • 974 N 85th Street Scottsdale, AZ 3
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.20
    •  
  • 7736 E Latham Street Scottsdale, AZ 1
    • 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1968
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.20
    •  
  • 821 N 86th Place Scottsdale, AZ 2
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1978
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.34
    •  
  • 8675 E Belleview Place Scottsdale, AZ 4
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1985
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 8233 E Hubbell Street Scottsdale, AZ 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1960
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.44
    •  
PROPERTY LISTING DETAILS
Lori Wegner
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165200
Last Updated: 11/28/2020
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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