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6145 E Cave Creek Road #108 Cave Creek, AZ 85331

2 Beds 2 Baths 1,229 sqft Built 2021

$395,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $321.40
  • 4 Days on Market
  • MLS # : 6192733
  • Updated Date : 02/13/2021 at 19:37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,229 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

The unit is being built and will have beautiful upgrades! Photos shown are from Unit 109 which is already closed. Incredible opportunity to get into the Cave Creek Town Core with new construction for a reasonable price. Beautiful selection of tile and granite. Two car garage. Very nice private patio with view of Black Mountain. Best location is walking distance to Bryan's BarBQ, BIg Earls and Oaks Diner and so much more. Community pool and spa. Small complex makes this unit even sweeter. No steps. Beautiful Master bedroom and large walk-in closet. Large Laundry room., beautiful white cabinetry, granite counters, wood look tiled floors. Construction Site. Please go through agent for all showings for our safety. Expected May Delivery

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Verde

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k484k

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

Neighborhood: Rancho Verde

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8052388

* 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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,372
Property Tax -$144
Property Insurance -$51
HOA -$232
Property Management Fees -$99
CASH FLOW
-$428

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$395,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.37%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,675

INVESTMENT

$106,675

Down Payment
$98,750
Rehab Estimate
$2,000
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,508

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7253$1,7904$1,900
$1,900
RENT COMPS ANALYSIS
  • 6145 E Cave Creek Road #108 Cave Creek, AZ 1
    • 2 beds 2 baths ∙ 1,229 Sqft ∙ Built 2021 2 beds 2 baths ∙ 1,229 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6018 E Knolls Drive Cave Creek, AZ 2
    • 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.17
    •  
  • 6010 E Knolls Drive Cave Creek, AZ 3
    • 2 beds 2 baths ∙ 1,472 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,472 Sqft ∙ Built 2005
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.22
    •  
  • 6053 E Knolls Way S Cave Creek, AZ 4
    • 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,470 Sqft ∙ Built 2005
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.29
    •  
PROPERTY LISTING DETAILS
Janet Mohr
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192733
Last Updated: 02/13/2021
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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