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19226 N Cave Creek Road #103 Phoenix, AZ 85024

3 Beds 3 Baths 1,855 sqft Built 2005

$314,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $169.76
  • 3 Days on Market
  • MLS # : 6167655
  • Updated Date : 12/04/2020 at 11:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,855 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this two story townhome in The Preserve at Cave Creek! This home offers travertine tile in the main areas and new carpeting in the bedrooms. The living room has vaulted ceilings and a fireplace and is open to the dining/kitchen areas. The kitchen features granite tile countertops and stainless steel appliances. Half bathroom on the main floor for guests' convenience. All bedrooms and full bathrooms located on the second floor. The primary bedroom has an ensuite bathroom with dual sinks, separate shower and tub, and a walk in closet. Three balconies, one off the dining room, a shared balcony off the secondary bedrooms and a private balcony off the primary bedroom. Close to lots of shopping, dining, golf, hiking and biking trails and easy freeway access. Vacant, come see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Preserve at Cave Creek Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k312k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Preserve at Cave Creek Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171567

* 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
Sunset Canyon School Primary Regular 492 27 7
Mountain Trail Middle School Middle Regular 714 29 7
North Canyon High School High Regular 1,957 86 4

Sunset Canyon School

  • Education Level: Primary
  • # of students: 492
  • # of teachers: 27
7
GreatSchools Rating

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,162
Property Tax -$216
Property Insurance -$63
HOA -$245
Property Management Fees -$99
CASH FLOW
$74

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.

$314,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$26,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,036

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8604$2,1055$2,499
$2,499
RENT COMPS ANALYSIS
  • 19226 N Cave Creek Road #103 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.00
    •  
  • 2120 E Rosemonte Drive Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1998
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 2108 E Marco Polo Road Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1995
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 1967 E Rockwood Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1989
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,105
    • $1.13
    •  
  • 19426 N 23rd Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1998
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.22
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167655
Last Updated: 12/04/2020
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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