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32202 N 56th Place Cave Creek, AZ 85331

4 Beds 3 Baths 2,897 sqft Built 2012

INVESTimate

$679,000

List Price

$2,280

$2,052 - $2,508

Rent Est.

$713,222  ( +5.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $234.38
  • 7 Days on Market
  • MLS # : 6120133
  • Updated Date : 08/23/2020 at 12:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,897 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Come see this beautiful home on a private cul-de-sac lot bordering open space in gated Lone Mountain! This home features a chef's kitchen with a six burner gas stove, double ovens, and beverage refrigerator. Great Room opens to kitchen . . . enjoy formal dining room for large gatherings. Four bedrooms, three full baths, and expanded closet space provide for great storage. Fourth Bedroom/Flex room is enormous and currently used as his and hers office with sitting area. Newly installed sophisticated alarm and sound system can be controlled from anywhere. Private backyard offers a heated pool/spa, built in barbecue, misting system, and retractable awning for additional shade. You will love the spectacular sunsets from your back patio and pool!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lone Mountain

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k483k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10452634

* 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
 

$611,100$746,900$679,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$2,505
Property Tax -$332
Property Insurance -$84
HOA -$107
Property Management Fees -$99
CASH FLOW
-$847

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.

$679,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.04%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$741

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,854

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,280
1$2,2802$2,8953$2,9004$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 32202 N 56th Place Cave Creek, 1
    • 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.79
    •  
  • 31399 N 59th Street Cave Creek, 2
    • 5 beds 4 baths ∙ 3,016 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,016 Sqft ∙ Built 1999
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.96
    •  
  • 31152 N 59th Street Cave Creek, 3
    • 5 beds 4 baths ∙ 3,016 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,016 Sqft ∙ Built 1999
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.96
    •  
  • 5037 E Sierra Sunset Trail Cave Creek, 4
    • 4 beds 3 baths ∙ 2,864 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,864 Sqft ∙ Built 2000
    property image
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.03
    •  
  • 5902 E White Pine Drive Cave Creek, 5
    • 3 beds 3 baths ∙ 3,037 Sqft ∙ Built 2012 3 beds 3 baths ∙ 3,037 Sqft ∙ Built 2012
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lisa Stine
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120133
Last Updated: 08/23/2020
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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