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$1,164,500

For Sale - Active
5402 E Michelle Dr, Scottsdale, AZ 85254
3 Beds
2 Baths
2,001 Square Feet
0.23 Acres Lot
Built in 1987
For Sale - Active
Units n/a
Checked: 3 hours ago
Updated: Jun 04, 2025 at 03:51AM

Investment Summary


Monthly Cash Flow
-$4,229
Cap Rate
1.9%
Cash-on-Cash Return
-18.9%
Debt Coverage Ratio
0.31
Internal Rate of Return (5 years)
-14.3%

Property Description


0.23 Acres Lot
Built in 1987
For Sale - Active
Units n/a

5402 E Michelle Drive, a beautifully remodeled 3 bed, 2 bath home in the highly sought-after Arabian Views neighborhood of Scottsdale. This fully renovated residence spans 2,001 square feet and sits on a generous 10,006 sq ft lot, offering space and privacy with no HOA or neighbors behind the home. The home has been completely renovated from top to bottom and is move-in ready! This spacious home features vaulted ceilings and abundant natural light throughout. The open-concept chef's kitchen is complete with new stainless-steel appliances, a gas range, oak cabinets, a massive island complete with waterfall edge countertops, and a dry bar perfect for entertaining in the adjacent dining room with floor-to-ceiling custom tiled fireplace. The living room features built-in cabinets and a newly 12' sliding Andersen door offering indoor/outdoor living to the covered patio and inviting yet private, backyard. The primary suite offers direct access to the home's exterior. It includes a resort-style ensuite bathroom complete with freestanding soaking tub, dual vanities with LED mirrors, zero-entry shower and his and her primary closets. Additional upgrades include: a brand-new roof, recently updated main electrical panel and HVAC, LED lighting, plumbing and brand-new hot water heater. With high-end design, finishes and quality craftsmanship, don't miss out on this opportunity to secure a fully renovated masterpiece in this coveted neighborhood!

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Location


Property Details


Parking

  • Description: Attch'd Gar Cabinets, Dir Entry frm Garage, Electric Door Opener
  • Details: Garage Door Opener, Direct Access
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 21511036
  • Lot Size: 10006 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1987

Tax Information

  • Annual Tax: $3,234

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Maricopa

Listing Details


Listed by:
Brian Frey
RETSY
(602) 402-3050

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6857212
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$4,229
Cap Rate
1.9%
Cash-on-Cash Return
-18.9%
Debt Coverage Ratio
0.31
Internal Rate of Return (5 years)
-14.3%

Purchase Details

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Purchase price:
$1,164,500
Amount financed:
-$931,600
Down payment:
$232,900
Closing costs:
$34,935
Rehab costs:
$0
Initial cash invested:
$267,835
Square feet:
2,001
Cost per square foot:
$582
Monthly rent per square foot:
$1.55

Financing Details

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Loan amount:
$931,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$6,098
Property tax:
$270
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,585

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$270-$3,234
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (34%)
34%-$1,045-$12,534

Cash Flow


Monthly Yearly
Net operating income:
$1,869 $22,428
Mortgage payments:
-$6,098 -$73,176
Cash flow:
$4,229 $50,748