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41840 N Spur Cross Road Cave Creek, AZ 85331

4 Beds 3 Baths 3,107 sqft Built 1996

$925,000

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $297.71
  • 3 Days on Market
  • MLS # : 6170235
  • Updated Date : 12/11/2020 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,107 sqft
  • Baths : 3 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

FABULOUS Custom Territorial equestrian property on 4.68 acres offers Incredible Panoramic Mountain Views! Home is set-back on the lot for privacy with quick access to the riding, hiking and MT biking trail just across the street along Spur Cross. Excellent split Master floor plan offers two guest Bedrooms with Jack & Jill Bath, additional guest room w/direct access to a private bath and large Master Suite. All BR's have walk-in closets. The views out back of Elephant Butte are breathtaking! You will love the private walled-in backyard for pets, the resort Sparkling Pool with a beach entry, raised spa and Ramada with built-in BBQ. Horse set-up includes covered shade and corral. Backyard pens are portable and easily re-configured. Roof has just been re-coated and home is on City Water.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cave Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k563k

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

Neighborhood: Cave Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10452694

* 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
Black Mountain Elementary School Primary Regular 463 29 8
Sonoran Trails Middle School Middle Regular 841 39 9
Cactus Shadows High School High Regular 1,704 70 8

Black Mountain Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
8
GreatSchools Rating

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
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$3,413
Property Tax -$366
Property Insurance -$88
Property Management Fees -$99
CASH FLOW
-$335

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.

$925,000

PROJECTED PRICE

$3,630

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
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-$10k$0.0$10k$20k$30k

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$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$38,535

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,630

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $4,163

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,3003$3,6304$6,300
$6,300
RENT COMPS ANALYSIS
  • 41840 N Spur Cross Road Cave Creek, AZ 3
    • 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,630
    • $1.17
    •  
  • 40555 N Canyon Ridge Trail Cave Creek, AZ 1
    • 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 1999
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.97
    •  
  • 5626 E Morning Star Road Cave Creek, AZ 2
    • 3 beds 5 baths ∙ 2,990 Sqft ∙ Built 2002 3 beds 5 baths ∙ 2,990 Sqft ∙ Built 2002
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.10
    •  
  • 6200 E Cielo Run N Cave Creek, AZ 4
    • 3 beds 3 baths ∙ 3,226 Sqft ∙ Built 1995 3 beds 3 baths ∙ 3,226 Sqft ∙ Built 1995
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,300
    • $1.95
    •  
PROPERTY LISTING DETAILS
Erika Willison
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170235
Last Updated: 12/11/2020
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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