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29038 N 48th Court Cave Creek, AZ 85331

4 Beds 2 Baths 2,126 sqft Built 1996

$475,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $223.42
  • 3 Days on Market
  • MLS # : 6160036
  • Updated Date : 11/14/2020 at 12:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,126 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Stunning Tatum Ranch split floorplan home featuring a tranquil, beautifully landscaped resort-like backyard on premium 1/4 acre lot! Home light and bright, w/ vaulted ceilings giving it very spacious feel. Beautiful designer touches, new tile floor throughout main living area, high quality laminate flooring in bedrooms. Spacious living room w/ gas fireplace w/ sliding doors leading to back patio. Gorgeous eat-in kitchen, rich granite counters, tons of high-end cabinetry, gleaming stainless steel appliances, large island with breakfast bar, huge pantry. Huge primary suite w/ bay window looking out over backyard. Stunning primary bathroom is all new w/ granite, incredible shower, separate tub. Huge backyard features covered patio, extended pavers, built in pergola, firepit, and built in BBQ.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tatum Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k483k

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

Neighborhood: Tatum Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452388

* 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
Desert Willow Elementary School Primary Regular 675 34 9
Desert Willow Elementary School Middle Regular 675 34 9
Cactus Shadows High School High Regular 1,704 70 8

Desert Willow Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 34
9
GreatSchools Rating

Desert Willow Elementary School

  • Education Level: Middle
  • # of students: 675
  • # of teachers: 34
9
GreatSchools Rating

Cactus Shadows High School

  • Education Level: High
  • # of students: 1,704
  • # of teachers: 70
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,753
Property Tax -$232
Property Insurance -$69
HOA -$28
Property Management Fees -$99
CASH FLOW
-$80

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.

$475,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$26,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,546

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3954$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 29038 N 48th Court Cave Creek, AZ 1
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 29806 N 48th Way Cave Creek, AZ 2
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1999
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
  • 5065 E Mazatzal Drive Cave Creek, AZ 3
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2004
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.20
    •  
  • 4529 E Hunter Court Cave Creek, AZ 4
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1995
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.19
    •  
  • 4973 E Barwick Drive Cave Creek, AZ 5
    • 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,091 Sqft ∙ Built 1997
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.27
    •  
PROPERTY LISTING DETAILS
Max Shadle
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160036
Last Updated: 11/14/2020
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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