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38923 N 57th Place Cave Creek, AZ 85331

3 Beds 2 Baths 2,419 sqft Built 1999

$660,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $272.84
  • 5 Days on Market
  • MLS # : 6200737
  • Updated Date : 03/19/2021 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,419 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

Absolutely stunning home located in the beautiful Rancho Manana golf community. There are many unique features throughout the home including vaulted ceilings with wooden beams to accent them, natural flagstone floors, and a cozy gas fireplace to relax by in the family room. The kitchen has been updated with granite counter tops and stainless steel appliances. The master suite is spacious and is enhanced with two master closets. You will love the outdoor living space that provides plenty of room to enjoy the peace and solitude of the outdoors and gives you all the space you need to entertain at. Enjoy the mountain views and the incredible sunsets in this timeless territorial home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Manana

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k591k

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

Neighborhood: Rancho Manana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10452481

* 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
 

$594,000$726,000$660,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$2,292
Property Tax -$241
Property Insurance -$74
HOA -$6
Property Management Fees -$99
CASH FLOW
-$782

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.

$660,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.29%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,650

INVESTMENT

$180,650

Down Payment
$165,000
Rehab Estimate
$5,750
Closing Costs
$9,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,292

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $165,000
Loan Amount $495,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$2,0003$2,0504$2,350
$2,350
RENT COMPS ANALYSIS
  • 38923 N 57th Place Cave Creek, AZ 1
    • 3 beds 2 baths ∙ 2,419 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,419 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.80
    •  
  • 5960 E Grapevine Road Cave Creek, AZ 2
    • 3 beds 2 baths ∙ 2,609 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,609 Sqft ∙ Built 1996
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 38065 N Cave Creek Road #1 Cave Creek, AZ 3
    • 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 1997
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.90
    •  
  • 7200 E Ridgeview Place #5 Carefree, AZ 4
    • 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 2006
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.92
    •  
PROPERTY LISTING DETAILS
Carol A. Royse
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200737
Last Updated: 03/19/2021
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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