2938 N 61st Pl UNIT 229ScottsdaleAZ85251
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 2938 N 61st Pl UNIT 229, Scottsdale, AZ, 85251 in Scottsdale worth modelling. At $298,000 with a 8.62% gross yield, the $2,141/mo rent leaves $182/mo after the $1,340/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.60 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $82,332 by year five; $2,745/yr in principal reduction adds further equity. Total projected return: $125,287.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 4.2% |
| Monthly Cash Flow | $182 | $1,800 |
City averages based on Scottsdale market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,141 |
| Total Monthly Debt Service | $1,840 |
| DSCR Ratio | 1.16x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Apartment
Built in 1979
880 sqft lot
$N/A/sqft
$197 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 85251, Scottsdale, AZ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,269 (100%) |
| Owner Occupied HU | 10,332 (39.3%) |
| Renter Occupied HU | 11,651 (44.4%) |
| Vacant Housing Units | 4,286 (16.3%) |
| Median Home Value | $628,160 |
| Average Home Value | $737,287 |
Housing Distribution
Address Breakdown
Residential
24,405
Single Family
10,048
Multi-Family
14,357
Businesses
2,882
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Apartment
Built in 1979
880 sqft lot
$N/A/sqft
$197 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 85251, Scottsdale, AZ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,269 (100%) |
| Owner Occupied HU | 10,332 (39.3%) |
| Renter Occupied HU | 11,651 (44.4%) |
| Vacant Housing Units | 4,286 (16.3%) |
| Median Home Value | $628,160 |
| Average Home Value | $737,287 |
Housing Distribution
Address Breakdown
Residential
24,405
Single Family
10,048
Multi-Family
14,357
Businesses
2,882
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael Bryce • Gentry Real Estate
Mls Name: ARMLS
Mls Provider:
Mls ID: #6863982
Disclaimer: All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.