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32850 N 61st Place Cave Creek, AZ 85331

3 Beds 3 Baths 3,037 sqft Built 2017

$920,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $302.93
  • 2 Days on Market
  • MLS # : 6212812
  • Updated Date : 03/26/2021 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,037 sqft
  • Baths : 3 full
Listing Agent

The Noble Agency

Listing Agent's Description

This immaculate & beautiful single level corner lot home offers 3 bedrooms plus a den and 3 baths with gorgeous mountain views. Open floor plan boasts a gourmet kitchen with granite counter tops, kitchen island, cherry cabinetry, top of the line stainless steel appliances and opens to the inviting family room. The family room features an abundance of windows for plenty of natural lighting and has beautiful views of Black Mountain. The owner's suite features a large tiled walk in shower, separate tub, dual vanities and closets. Low maintenance backyard with large covered patio, pool, spa and fire pit. Gated community with bike and walking paths and a children's playground make this the perfect home for the active single or modern family.

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
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
 

$828,000$1,012,000$920,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$3,196
Property Tax -$450
Property Insurance -$86
HOA -$128
Property Management Fees -$99
CASH FLOW
-$1,208

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.

$920,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$249,550

INVESTMENT

$249,550

Down Payment
$230,000
Rehab Estimate
$5,750
Closing Costs
$13,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,196

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $230,000
Loan Amount $690,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$184

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,553

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$3,0003$3,2004$3,3005$4,500
$4,500
RENT COMPS ANALYSIS
  • 32850 N 61st Place Cave Creek, AZ 1
    • 3 beds 3 baths ∙ 3,037 Sqft ∙ Built 2017 3 beds 3 baths ∙ 3,037 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.91
    •  
  • 5902 E White Pine Drive Cave Creek, AZ 2
    • 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
    •  
  • 4633 E Sierra Sunset Trail Cave Creek, AZ 3
    • 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2000
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.00
    •  
  • 7558 E Visao Drive Scottsdale, AZ 4
    • 4 beds 4 baths ∙ 2,719 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,719 Sqft ∙ Built 1999
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.21
    •  
  • 5708 E Sleepy Ranch Road Cave Creek, AZ 5
    • 3 beds 3 baths ∙ 3,037 Sqft ∙ Built 2013 3 beds 3 baths ∙ 3,037 Sqft ∙ Built 2013
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.48
    •  
PROPERTY LISTING DETAILS
Tracy Fitzgerald
The Noble Agency
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212812
Last Updated: 03/26/2021
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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