$1,985,000
Investment Summary
- Monthly Cash Flow
- -$3,652
- Cap Rate
- 3.5%
- Cash-on-Cash Return
- -9.6%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -5.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Experience resort-like living in Scottsdale on a 1.3+ acre lot w/ spectacular mountain views! Enjoy gorgeous sunrises from the back patio w/ the majestic saguaros on your property. Soak in incredible sunsets from both the back & front yards! This lot is 30% bigger than the next largest lot w/ a home for sale at this time in Sand Flower. Plus, you will love the view fencing used in just the right portions of the backyard to make the most of your full desert & mountain views while still maintaining privacy! This wonderful home has 4 bedrooms, 3.5 bathrooms, an office, plus TWO separate bonus rooms in the main house PLUS a 1 bedroom, 1 bath casita w/ a separate entrance. Perfect for entertaining inside & out! The spacious eat-in kitchen has a large island w/ bar seating plus extra ... counter space for food & drink service when hosting large gatherings. The large kitchen is open to the family room w/ a cozy gas fireplace for those cold winter nights & holidays. To top it off, you enjoy gorgeous views of the backyard, desert & mountains from the huge windows & slider doors in both the kitchen & family rooms! There are formal dining & living areas too for when you need even more space. Currently the formal living space is being used as a billiards room - another great option, use to suit your needs! The split floor plan makes the primary suite a truly private retreat on one side of the home. You will love the spacious primary bedroom w/ great views to the backyard & patio access. The spa-like primary bathroom has two large vanities, a separate makeup vanity, free standing tub, separate shower w/ stone floor, private toilet room & a oversized walk-in closet! The home office can be accessed from the primary bedroom so that space is very versatile! Currently used as an exercise room, but would make a great sitting area, den, home office, etc! The three secondary bedrooms are situated in their own wing along w/ two full bathrooms & 2 spacious & separate bonus rooms! One bonus space is currently used as a TV/hang-out room w/ patio access & great mountain views! The other is currently used as a bunk room for children to sleep, plus a TV/media & playroom. Use to suit your needs - lots of possibilities! Have guests & want to give them their space? The casita is perfect! Separate entrance off the front courtyard to the private, spacious bedroom & full bathroom. Warning - they may not want to leave! Especially when they experience the resort-style backyard! Gorgeous heated pool w/ waterfall & large baja shelf. You will love the look of the water feature & the sound adds to the relaxing vibe. Gas fire pit to enjoy on chilly winter nights. The new jacuzzi is relaxing & fun year round! The HUGE covered patio, built-in BBQ island w/ table & seating, plus mounted big screen TV are perfect for hosting everything from swim parties, to game days, to holidays & all of life's celebrations! Or just relax & spend quality time w/ the family. Tons of easy-care artificial turf provides lots of space for yard games, plus room for the pets & kids to run & play. Perfect design w/ two separate 2-car garages! They both have built-in cabinetry & direct access into the home. Many recent upgrades & improvements you will appreciate include: newer roof (2020), newer A/C's (2 in 2020 for main home, 1 in 2021 for the casita), pool heater was recently added, jacuzzi also recently added, all new solid wood doors throughout the home, new front doors (main home & casita), all new light fixtures & ceiling fans, & more! Even with all of the wonderful recent improvements, the sellers are offering a $35K credit to the buyer at close of escrow to use as they wish to make their own personalizations (paint allowance for those rooms currently with custom colors, etc). This home is currently used as a second home plus a furnished rental when the owners are not using it. It earns great rental income - ask listing agent for more details if this is of interest! Most furnishings, housewares, etc can be purchased on separate bill of sale. Great Scottsdale location. Quiet & a perfect setting for enjoying our famous Arizona sunsets & spectacular sunrises! Plus, w/out all of the light pollution of the city, the starry nights are amazing! A short drive to Cave Creek & all of the fun restaurants, bars, shopping & entertainment. There are hiking/biking trails to jump on right in the subdivision & of course close access to tons more in the area. Great schools. A quick drive in to other Scottsdale attractions like Grayhawk, Kierland & Scottsdale Quarter, the Airpark area, & more. Close to great golfing, etc. Tour today & you will want to call this house home!
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Location
Property Details
Parking
- Description: Attch'd Gar Cabinets, Dir Entry frm Garage, Electric Door Opener, RV Gate, Separate Strge Area
- Details: Garage Door Opener, Direct Access
- Garage Spaces: 4
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 12
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Material: Tile, Concrete
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Sand Flower
- HOA Fee: $66/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 21634104
- Lot Size: 57126 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2002
Tax Information
- Annual Tax: $3,999
Utilities
- Water & Sewer: Public
- Heating: Natural Gas
- Cooling: Central Air, Ceiling Fan(s)
Location
- County: Maricopa
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,652
- Cap Rate
- 3.5%
- Cash-on-Cash Return
- -9.6%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -5.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $1,985,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,588,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $397,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $59,550 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $456,550 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,470 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $444 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $1.99 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,588,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $9,394 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $333 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $623 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $10,350 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $8,900 | $106,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$534 | -$6,408 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,366 | $100,392 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 4% | -$333 | -$3,999 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$623 | -$7,476 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$712 | -$8,544 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$445 | -$5,340 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$445 | -$5,340 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 1% | -$66 | -$792 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 29% | -$2,624 | -$31,491 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $5,742 | $68,904 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$9,394 | -$112,728 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$3,652 | -$43,824 |