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32228 N 48th Street Cave Creek, AZ 85331

5 Beds 3 Baths 2,768 sqft Built 2004

$689,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $248.92
  • 3 Days on Market
  • MLS # : 6164724
  • Updated Date : 11/27/2020 at 21:47
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,768 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

UPDATED, CURRENT FINISHES.... EXACTLY WHAT BUYERS ARE LOOKING FOR. MOVE IN READY SINGLE LEVEL FAMILY HOME WITH 5 BEDROOMS AND 3 BATHS. GREAT ROOM CONCEPT WITH WHITE KITCHEN CABINETS AND LIGHT BRIGHT GRANITE, WOOD PLANK TILE FLOORING, WHITE PLANTATION SHUTTERS, CURRENT PAINT AND WIDE BASEBOARDS. FABOULOUS EAT IN KITCHEN, LARGE OPEN FAMILY ROOM & FORMAL DINING AREA. RESORT STYLE BACKYARD INCLUDES EXPANSIVE COVERED PAVER PATIO, NEWLY PEBBLE TEC POOL WITH ROCK WATERFALL & PUTTING GREEN. PRIVATE LARGE CORNER LOT WITH WASH BEHIND AND MOUNTAIN VIEWS. SPACIOUS MASTER RETREAT WITH BARN DOORS TO SPA MASTER BATH. QUIET GATED COMMUNITY WITH ALL SINGLE LEVEL HOMES.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ashler Hills Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k513k

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

Neighborhood: Ashler Hills Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452390

* 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
 

$620,100$757,900$689,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,542
Property Tax -$337
Property Insurance -$81
HOA -$14
Property Management Fees -$99
CASH FLOW
-$743

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.

$689,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.4%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,542

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$2,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,906

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7503$3,0004$3,1005$3,150
$3,150
RENT COMPS ANALYSIS
  • 32228 N 48th Street Cave Creek, AZ 1
    • 5 beds 3 baths ∙ 2,768 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,768 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 32227 N 44th Place Cave Creek, AZ 2
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2000
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.00
    •  
  • 30651 N 46th Place Cave Creek, AZ 3
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 1989 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 1989
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
  • 33825 N Pate Place Cave Creek, AZ 4
    • 5 beds 3 baths ∙ 2,769 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,769 Sqft ∙ Built 2002
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.12
    •  
  • 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
Gina Gullquist
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164724
Last Updated: 11/27/2020
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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