$779,900
Investment Summary
- Monthly Cash Flow
- -$1,829
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -12.2%
- Debt Coverage Ratio
- 0.50
- Internal Rate of Return (5 years)
- -7.8%
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
Wow! A truly first-class remodel in the heart of Scottsdale! Enjoy a view of Camelback Mountain and Praying Monk as you pull in to this gorgeous property! Located approximately 2 miles from Old Town Scottsdale and Scottsdale Fashion Square, this N/S Lot with backyard facing North for maximum shade, is the perfect property and location to enjoy the full interior and exterior! This property features plenty of parking, plus a 2-car garage that has a separate A/C for enjoying the cool air in your dream garage or workshop, while featuring epoxy floors, and newer garage door opener with wi-fi, and a separate large storage area for additional storage! As you arrive, you will notice the Brand-New Roof that features a higher end rubberized underlayment with Gripspot technology and all new shingles that comes with a transferrable warranty to the buyer! This home also features brand new dual pane low-e energy efficient vinyl windows and 2 new sliding doors! All doors are new including closets that have solid shaker style finishes as well. The entry door is a custom-built door for that extra touch as you enter the home. As you step inside, you will be greeted by a nice open living great room area with all new high-end wood look tile floors and new baseboards. The kitchen is completely new with high end cabinetry including soft close doors and drawers, black handles, plus 42" upper cabinets for that higher end finish. Enjoy the new quartz countertops, soothing tile backsplash, and high end new stainless-steel appliances package including LG convection range that features air fry tray and Thin Q wi-fi, a drawer mounted microwave with motorized open and close features, a high-end black designer range hood over the island, and a matching stainless dishwasher. Full indoor laundry room that also features additional shaker cabinets for storage. Enjoy the 3 bedrooms plus a den or office or hobby and craft room that has a closet as well for added storage. Both the Primary on suite bath and the guest bath are nicely upgraded as well with new upscale Manhattan Vanities with soft close drawers and matte black hardware. They also both have tile surrounds, new towel bars, mirrors, custom faucets, and high-end Kohler toilets. There is also a brand new 50-gallon water heater with new supply lines and drip pan. The backyard features a newly created approximately 12 x 16-foot portico shade Pergola to enjoy off the primary bedroom with nice pavers for that bistro table and morning coffee. There is also a large covered patio for additional shade and backyard enjoyment. The backyard is on a drip system plus features a large artificial turf area for kids or pets to enjoy. The entire drip system front and back was gone through as well to overhaul and ensure a nice functioning drip system for the front and backyard. 20 bags of R-30 blown in insulation were also added to the attic for more energy efficiency. The seller also had the sewer line professionally scoped and found a tree root blockage, so the seller had the sewer line professionally repaired including excavation to remove damaged area of line, and installation of new pipe extension. This included installing a new cleanout approximately six-foot-deep, and professional descaling of main sewer line as well. The seller also had a new electrical panel box and new breakers installed and professionally labeled, to properly update the property. This also included new 220 wiring for the range and microwave and adding many recessed can lights to modernize the property. You will also enjoy the tamper proof outlet covers and no visible screws for a high-end finish, plus new GFCI outlets in the kitchen and bathrooms. The laundry room features a sensor light for a no switch entry as well. There is so much to list with this property that it is truly impossible to detail all the first class finishes that this home has! It is a must see and truly a home you will walk into and feel the quality throughout! Come see this amazing remodel in the heart of Scottsdale! You will not be disappointed!
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Location
Property Details
Parking
- Description: Electric Door Opener
- Details: Garage Door Opener, Direct Access
- Garage Spaces: 2
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Block
- Roof Material: Composition
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 17369029
- Lot Size: 6787 sqft
Property Information
- Property Type: Single Family Residence
- Style: Ranch
- Year Built: 1962
Tax Information
- Annual Tax: $842
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air, Ceiling Fan(s)
Location
- County: Maricopa
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,829
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -12.2%
- Debt Coverage Ratio
- 0.50
- Internal Rate of Return (5 years)
- -7.8%
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:
| $779,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$623,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $155,980 |
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:
| $23,397 |
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:
| $179,377 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,620 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $481 |
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:
| $1.73 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $623,920 |
|---|---|
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:
| $3,691 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $70 |
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:
| $196 |
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:
| $3,957 |
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:
| $2,800 | $33,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$168 | -$2,016 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,632 | $31,584 |
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. | 3% | -$70 | -$842 |
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% | -$196 | -$2,352 |
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% | -$224 | -$2,688 |
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% | -$140 | -$1,680 |
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% | -$140 | -$1,680 |
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. | n/a | n/a | n/a |
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 | 28% | -$770 | -$9,242 |
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:
| $1,862 | $22,344 |
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. | -$3,691 | -$44,292 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$1,829 | -$21,948 |