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6555 E Morning Vista Lane Cave Creek, AZ 85331

3 Beds 2 Baths 1,944 sqft Built 1981

$470,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $241.77
  • 4 Days on Market
  • MLS # : 6189442
  • Updated Date : 02/06/2021 at 17:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

1.25 acre ranch style home in a quiet neighborhood in Cave Creek. Spacious open floor plan. Carpet & tile flooring. Vaulted ceilings. Two-sided fireplace. Formal living room has a sunken conversation area with one side of the fireplace. The other side faces the family room. Th kitchen has oak cabinets, white appliances, breakfast bar, and a pantry cabinet. Sizable bedrooms. The owner's suite has a full bath. Interior laundry. The backyard has a covered patio and plenty of room to create your own oasis. This property just needs a bit of TLC! Close to major freeways, shopping, dining, Tatum Ranch, Desert Ridge, Carefree/Cave Creek.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Boulders

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k483k

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

Neighborhood: Boulders

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $10453924

* 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
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,632
Property Tax -$166
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
$117

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.

$470,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$39,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,411

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0803$2,4004$2,4005$2,575
$2,575
RENT COMPS ANALYSIS
  • 6555 E Morning Vista Lane Cave Creek, AZ 2
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.07
    •  
  • 29831 N 66th Street Cave Creek, AZ 1
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.22
    •  
  • 6116 E Morning Vista Lane Cave Creek, AZ 3
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1991
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.31
    •  
  • 29011 N 51st Place Cave Creek, AZ 4
    • 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 1999
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.24
    •  
  • 6688 E Duane Lane Scottsdale, AZ 5
    • 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 1996
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $1.19
    •  
PROPERTY LISTING DETAILS
Matt M. Borkowski
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189442
Last Updated: 02/06/2021
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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