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4508 E Casey Lane Cave Creek, AZ 85331

4 Beds 3 Baths 2,709 sqft Built 1996

$650,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $239.94
  • 7 Days on Market
  • MLS # : 6161101
  • Updated Date : 11/20/2020 at 15:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,709 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Incredible two-story Cave Creek home with great curb appeal & a 3-car garage man cave available in highly sought-after Tatum Ranch. 4 beds, 3 baths and a spacious loft with lots of possibilities. Impressive formal living and dining area with soaring vaulted ceilings. Open concept family room offers a charming fireplace. Kitchen boasts new granite counters & cabinet handles, copper sink, backsplash, double ovens, center island & a built in desk. 1 bed and 3/4 bath downstairs. Remaining bedrooms upstairs including the master w/ double door entry, a full en-suite with dual vanities, separate tub and shower, his & hers closets, and access to the balcony to enjoy breathtaking views. Enjoy outdoor living in the secluded backyard bordering a wash for privacy, complete with a covered patio,

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
 

$585,000$715,000$650,000

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 -$2,398
Property Tax -$318
Property Insurance -$80
HOA -$9
Property Management Fees -$99
CASH FLOW
-$574

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.

$650,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.36%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,966

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,330
1$2,3302$2,8003$2,9004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 4508 E Casey Lane Cave Creek, AZ 1
    • 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.86
    •  
  • 4819 E Barwick Drive Cave Creek, AZ 2
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1999
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.08
    •  
  • 4836 E Eden Drive Cave Creek, AZ 3
    • 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.12
    •  
  • 4840 E Eden Drive Cave Creek, AZ 4
    • 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1999
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.12
    •  
  • 29424 N 49 Street Cave Creek, AZ 5
    • 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.06
    •  
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 #: 6161101
Last Updated: 11/20/2020
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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