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29507 N 53rd Street Cave Creek, AZ 85331

4 Beds 3 Baths 3,167 sqft Built 2007

$900,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $284.18
  • 6 Days on Market
  • MLS # : 6191364
  • Updated Date : 02/11/2021 at 04:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,167 sqft
  • Baths : 3 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

NO HOA or NAOS Restrictions! This custom home with a great room floor plan and no steps is on 1.17 usable acres providing plenty of space for adding an RV garage, casita or workshop. Quality finishes include travertine floors, solid Alder doors/cabinets, slab granite counters throughout, & stainless appliances. The great room features a handsome floor to ceiling stacked stone gas fireplace with lighted shelving. Master suite & guest room/office are split from the other two bedrooms. Oversized patio overlooks a resort style pool, spa, firepit & boasts an observation deck for star gazing. 4+ car garage with storage cabinets & workbench. Property is completely fenced in with (2) RV gates & space on both sides for adding storage, workshop, or sport court . . .the possibilities are endless.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert View

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k483k

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

Neighborhood: Desert View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10452582

* 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
Sonoran Trails Middle School Middle Regular 841 39 9
Cactus Shadows High School High Regular 1,704 70 8
Sonoran Trails Middle School Middle Unknown NA

Sonoran Trails Middle School

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 39
9
GreatSchools Rating

Cactus Shadows High School

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

Sonoran Trails Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$810,000$990,000$900,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$3,126
Property Tax -$314
Property Insurance -$89
Property Management Fees -$99
CASH FLOW
-$898

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.

$900,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.2%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,250

INVESTMENT

$244,250

Down Payment
$225,000
Rehab Estimate
$5,750
Closing Costs
$13,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $225,000
Loan Amount $675,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,476

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,730
1$2,7302$3,0003$3,2004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 29507 N 53rd Street Cave Creek, AZ 1
    • 4 beds 3 baths ∙ 3,167 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,167 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $0.86
    •  
  • 30651 N 46th Place Cave Creek, AZ 2
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 1989 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 1989
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
  • 29424 N 49 Street Cave Creek, AZ 3
    • 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 1999
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.13
    •  
  • 27638 N 56th Place Scottsdale, AZ 4
    • 3 beds 3 baths ∙ 3,032 Sqft ∙ Built 2000 3 beds 3 baths ∙ 3,032 Sqft ∙ Built 2000
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.12
    •  
  • 31152 N 59th Street Cave Creek, AZ 5
    • 5 beds 4 baths ∙ 3,016 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,016 Sqft ∙ Built 1999
    property image
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Cindy Metz
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191364
Last Updated: 02/11/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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