18202 CAVE CREEK Road 141, Phoenix, AZ 85032, Phoenix, 85032 - 1 bed, 1 bath
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Phoenix, AZ 85032
This Turn-Key Condominium serves as a high-yield Asset with a List Price of $140,000 and a Fair Market Value of $118,796. The valuation is driven by a Strong Investment Yield and high ROI, currently generating $1,450 per month in rent. Featuring a Condition Rating of 3, the interior includes a Modernized Kitchen and Community Pool access. While served by the Paradise Valley Unified District, the property’s core value lies in its strategic proximity to Hwy 101 and 51. This acquisition is ideal for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 18202 CAVE CREEK Road 141 Subject | $140,000* List Price | 1 | 1 | 608 | $195 | - |
A 18202 N CAVE CREEK Road 109 Sold | $140,000 | 2 | 2 | 836 | $167 | 0.0 mi |
B 18202 N CAVE CREEK Road 228 Sold | $150,000 | 2 | 1 | 836 | $179 | 0.0 mi |
C 18202 N CAVE CREEK Road 228 Sold | $150,000 | 2 | 1 | 836 | $179 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features significant interior updates that exceed its 1983 build year. The kitchen has been modernized with white shaker-style cabinetry, stainless steel appliances, stone countertops, and a decorative tile backsplash. Additionally, the unit features updated wood-look flooring and recessed lighting. While the exterior reflects the age of the complex, the interior renovations are recent and well-maintained, fitting the 'good' criteria.
With a current rental income of $1,450 per month against a $140,000 list price, this property offers an exceptional rent-to-price ratio, providing immediate cash flow for investors.
The property is ideally situated near the Loop 101 and SR-51 highways, offering excellent accessibility for university students and professionals working in the Phoenix area.
The unit comes fully equipped with all appliances, including an in-unit stackable washer and dryer, and the HOA covers major utilities like water, trash, and sewer, simplifying ownership.
At only 608 square feet, the small footprint and '1 bedroom plus den' configuration may limit the property's appeal to buyers or tenants requiring more spacious living areas.
The assigned public schools have low ratings ranging from 2 to 4, which could be a deterrent for families and may impact the long-term appreciation of the asset.
Attention Investors and First-Time Homebuyers! Why rent when you can own this affordable 2 bed (1 bedroom + den), 1 bath bottom floor condo in a prime location near Hwy 101 and 51. Perfect for university college kids looking to split expenses as roommates. This unit comes equipped with a stackable washer and dryer, all appliances included, and low expenses with HOA covering water, trash, sewer, and a designated covered parking space. Enjoy the community pool and the convenience of a great location. Currently rented at $1450 a month, this property offers a great investment opportunity or a cost-effective option for buyers looking to own their own home. Don't miss out on this chance to own a piece of real estate in a desirable location at a price that beats renting!
No exterior & parking available.
Grades 2-6 • 0.7 mi
Grades PK-3 • 0.7 mi
Grades 7-8 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 47% |
| Baths | 1.0 | 1.0 | 50% |
| Square foot | 608 | 850 | 2% |
| Lot Size | 644 | 783 | 37% |
| Price | $140.0K | $220.0K | 27% |
| Price per sq ft | $230 | $247 | 47% |
| Built year | 1983 | 1984 | 49% |
| HOA | $375 | $255 | 88% |
| Days on market | 543 | 1397 | 39% |
Oct 30, 2024
$140,000
Initial Listing