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6231 E Mark Way #19 Cave Creek, AZ 85331

2 Beds 2 Baths 1,781 sqft Built 2012

$495,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $277.93
  • 8 Days on Market
  • MLS # : 6152532
  • Updated Date : 10/31/2020 at 12:44
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,781 sqft
  • Baths : 2 full
Listing Agent

Success Property Brokers

Listing Agent's Description

Stunning 2 bedroom 2 bath open concept home on a corner lot tucked away in an intimate community with mountain views. Great entertaining space in this energy efficient home. Cook's kitchen with large granite countertops, large island and stainless steel appliances. Energy efficient sliders and windows that open to covered patio with views of Black Mountain. Split bedrooms with owner's suite offering spa-like shower, dual vanities, and large closet. Lots of natural light with high ceilings and accents of coffered ceilings and crown molding throughout. Community with heated pool, spa, clubhouse, fitness and more. Close to town yet secluded. Sonoran Desert living with great trails to enjoy the desert splendor. Minutes to North Scottsdale. Nearby hiking, lakes,boating, dining and shopping

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Madera Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k507k

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

Neighborhood: Rancho Madera Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9472388

* 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
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,826
Property Tax -$180
Property Insurance -$62
HOA -$220
Property Management Fees -$99
CASH FLOW
-$558

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.

$495,000

PROJECTED PRICE

$1,830

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) 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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,180

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
  • $2,204

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7253$1,7904$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 6231 E Mark Way #19 Cave Creek, AZ 1
    • 2 beds 2 baths ∙ 1,781 Sqft ∙ Built 2012 2 beds 2 baths ∙ 1,781 Sqft ∙ Built 2012
    • 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
    •  
  • 6018 E Rancho Manana Boulevard Cave Creek, AZ 4
    • 2 beds 2 baths ∙ 1,489 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,489 Sqft ∙ Built 1998
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.27
    •  
  • 6053 E Knolls Way S Cave Creek, AZ 5
    • 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
Charlotte M Gray
Success Property Brokers
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152532
Last Updated: 10/31/2020
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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