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31610 N 54th Place Cave Creek, AZ 85331

4 Beds 3 Baths 2,558 sqft Built 2003

$630,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $246.29
  • 2 Days on Market
  • MLS # : 6157814
  • Updated Date : 11/08/2020 at 00:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,558 sqft
  • Baths : 3 full
Listing Agent

Re/max Solutions

Listing Agent's Description

THIS is your new Home Sweet Home. This amazing home has been well cared for and is located in the sought after subdivision of Chaparal @ Lone Mountain. You'll be close to great schools & parks in this amazing gated community. This gem offers 3 spacious bedrooms and a den that could be a 4th and all with ceiling fans. The kitchen has contemporary lighting, granite countertops, breakfast bar, island, pantry, and upgraded cabinetry. Stunning back yard with covered patio, amazing sunset views, pool & spa, & gorgeous landscaping. Master bath suite offers garden tub, separate shower, walk in closet, and vanity with double sinks. This home has so much to offer you need to come see it for yourself...but you need to hurry because it won't last long on the market!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chaparral

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k597k

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

Neighborhood: Chaparral

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10452826

* 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
Lone Mountain Elementary School Primary Regular 589 31 9
Lone Mountain Elementary School Middle Regular 589 31 9
Cactus Shadows High School High Regular 1,704 70 8

Lone Mountain Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 31
9
GreatSchools Rating

Lone Mountain Elementary School

  • Education Level: Middle
  • # of students: 589
  • # of teachers: 31
9
GreatSchools Rating

Cactus Shadows High School

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

$567,000$693,000$630,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,324
Property Tax -$308
Property Insurance -$77
HOA -$28
Property Management Fees -$99
CASH FLOW
-$496

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.

$630,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.6%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$8,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,942

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,340
1$2,3402$2,6003$2,7504$3,0005$3,150
$3,150
RENT COMPS ANALYSIS
  • 31610 N 54th Place Cave Creek, AZ 1
    • 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.91
    •  
  • 5537 E Dusty Wren Drive Cave Creek, AZ 2
    • 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 2002
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.13
    •  
  • 5207 E Lone Mountain Road Cave Creek, AZ 3
    • 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 1986
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.24
    •  
  • 5410 E Calle De Las Estrellas -- Cave Creek, AZ 4
    • 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2001
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.13
    •  
  • 32409 N 52nd Way Cave Creek, AZ 5
    • 4 beds 3 baths ∙ 2,864 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,864 Sqft ∙ Built 1999
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.10
    •  
PROPERTY LISTING DETAILS
Michael Kent
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157814
Last Updated: 11/08/2020
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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