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29222 N 51st Place Cave Creek, AZ 85331

3 Beds 2 Baths 1,503 sqft Built 1999

$380,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $252.83
  • 2 Days on Market
  • MLS # : 6162123
  • Updated Date : 11/21/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,503 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens Real Estate Sonoran Desert Lifestyles

Listing Agent's Description

Welcome Home! Turn key and ready for a new owner in this beautiful Tatum Ranch Community. The Home is on a cul-de-sac and is Close to Restaurants, Shopping, Even Horse Boarding Facilities are Close By! This Lovely Home Welcomes You with an Open Floor Plan, 3 Bedrooms, Plus Den/Office, and 2 Baths. Beautiful Large Kitchen with Gas Stove! YES!! Plantation Shutters, New Lighting, Paint, and ALSO as a BONUS*** Newer Washer and Dryer!! This is a Great Home to Entertain in, and Easy to Maintain. Bring your Glass of Wine or maybe even a cup of Coffee to the Back Patio/Yard and ENJOY Cave Creek Living!

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
Horseshoe Trails Elementary School Primary Regular 695 31 9
Horseshoe Trails Elementary School Middle Regular 695 31 9
Cactus Shadows High School High Regular 1,704 70 8

Horseshoe Trails Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 31
9
GreatSchools Rating

Horseshoe Trails Elementary School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 31
9
GreatSchools Rating

Cactus Shadows High School

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

$342,000$418,000$380,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,402
Property Tax -$186
Property Insurance -$57
HOA -$9
Property Management Fees -$99
CASH FLOW
-$162

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.

$380,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,700

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,8503$1,9004$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 29222 N 51st Place Cave Creek, AZ 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.06
    •  
  • 29445 N 51st Street Cave Creek, AZ 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1999
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.10
    •  
  • 5128 E Roy Rogers Road Cave Creek, AZ 3
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1999
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
  • 29605 N 51st Street Cave Creek, AZ 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1999
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.19
    •  
  • 5130 E Armor Street Cave Creek, AZ 5
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1998
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.33
    •  
PROPERTY LISTING DETAILS
Christine L. Mclaren
Better Homes & Gardens Real Estate Sonoran Desert Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162123
Last Updated: 11/21/2020
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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