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4237 E Montgomery Road Cave Creek, AZ 85331

3 Beds 2 Baths 2,186 sqft Built 1993

$592,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $270.81
  • 5 Days on Market
  • MLS # : 6164290
  • Updated Date : 12/26/2020 at 20:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,186 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This incredible three-bedroom home has been completely updated in the past 3 years. With a new roof in 2017 and new HVAC in 2013. Walk in to vaulted ceilings, wood flooring and open floorplan. The stunning kitchen has new granite, light fixtures, backsplash and new appliances! Enjoy entertaining with this chef's dream kitchen. The den has rich custom cabinetry and a new wine cabinet. There is FTTH: Fiber to the Home internet from Cox! Both bathrooms have been updated with walk-in showers and custom cabinets in all rooms. The fireplace wall in the living room is elegant, providing for cozy winter nights. Enjoy the large master suite with private exit to the backyard, double sinks and walk-in closet. The backyard oasis has upgraded pavers, a raised garden, sparkling pool and putting green.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Tatum Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k483k

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

Neighborhood: Tatum Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452388

* 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
Desert Willow Elementary School Primary Regular 675 34 9
Desert Willow Elementary School Middle Regular 675 34 9
Cactus Shadows High School High Regular 1,704 70 8

Desert Willow Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 34
9
GreatSchools Rating

Desert Willow Elementary School

  • Education Level: Middle
  • # of students: 675
  • # of teachers: 34
9
GreatSchools Rating

Cactus Shadows High School

  • Education Level: High
  • # of students: 1,704
  • # of teachers: 70
8
GreatSchools Rating
 

$532,800$651,200$592,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,184
Property Tax -$281
Property Insurance -$70
HOA -$9
Property Management Fees -$99
CASH FLOW
-$273

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.

$592,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$162,630

INVESTMENT

$162,630

Down Payment
$148,000
Rehab Estimate
$5,750
Closing Costs
$8,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,184

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,000
Loan Amount $444,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$19,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,514

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3703$2,4954$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 4237 E Montgomery Road Cave Creek, AZ 2
    • 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.08
    •  
  • 4245 E Creosote Drive Cave Creek, AZ 1
    • 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 1994
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.15
    •  
  • 30023 N 47th Street Cave Creek, AZ 3
    • 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 1993
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.10
    •  
  • 30649 N 43rd Place Cave Creek, AZ 4
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1993
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
  • 4306 E Wildcat Drive Cave Creek, AZ 5
    • 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 1992
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.21
    •  
PROPERTY LISTING DETAILS
Kodi K Riddle
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164290
Last Updated: 12/26/2020
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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