27435 N 42ND Street, Cave Creek, AZ 85331, Cave Creek, 85331 - 5 bed, 3 bath
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Cave Creek, AZ 85331
This Turnkey Equestrian Estate is a Strong Value Opportunity, listed at $1,800,000—positioned well below the $1,798,948 Fair Market Value (effectively at market). Featuring a Condition Rating of 2, the property includes a brand-new luxury stable with 16 stalls and RU-43 zoning for maximum operational flexibility. With its expansive lot and refined guest quarters, this estate offers a rare blend of high-end lifestyle and income potential. It is an ideal acquisition for Equestrian Enthusiasts or Luxury Airbnb Operators seeking a move-in-ready asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 27435 N 42ND Street Subject | $1,800,000* List Price | 5 | 3 | 2,421 | $740 | - |
A 4447 E RED BIRD Road Active | $1,275,000 List Price | 4 | 2 | 1,860 | $685 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1985, the property has been fully reimagined and extensively renovated within the last 5 years. The listing and images confirm all-new plumbing, electrical, and concrete infrastructure, alongside a brand-new luxury stable. The interior features modern wood-look flooring, recessed lighting, updated fixtures, and high-end appliances, meeting the criteria for a top-tier condition score.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 65688, living area = 2421.
The property features a brand-new luxury stable with 16 stalls, wash racks, and three turnout pens, all supported by new concrete, plumbing, and electrical infrastructure, making it a turnkey asset for horse enthusiasts.
Located on a County Island with RU-43 zoning and no city oversight, this estate offers rare flexibility for high-end Airbnb operations and unrestricted equestrian privileges.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 4.
At nearly $2 million for 2,421 square feet of living space, the valuation is heavily weighted toward the land and equestrian improvements rather than the primary residence's interior volume.
While fully reimagined, the original 1985 construction may still possess architectural or structural limitations inherent to its era that modern custom builds typically avoid.
NEW PRICE WITH CURRENT APPRAISAL! County Island, zoned RU-43 with ''U'' equestrian privileges and no city oversight--ideal for high-end Airbnb stays with horses. Showcasing a brand-new luxury stable offering 16 stalls, 3 turnout pens, and wash racks in each barn, supported by all-new concrete, plumbing, and electrical. Gated with 28' front and 30' rear access. The residence features expansive living and dining areas, a private laundry room with exterior entry, walk-in closets, and refined guest quarters with full kitchen and bath. Finished with fresh, elegant landscaping.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,421 | - |
| Lot Size | 65,688 | - |
| Price | $1.80M | $800.0K |
| Price per sq ft | $743 | $353 |
| Built year | 1985 | 0 |
| HOA | $0 | $0 |
| Days on market | 139 | 3149 |
Jun 8, 2026
$1,800,000
$1,850,000
-3% Price Drop
Initial Listing
May 10, 2026
$1,850,000
$1,999,000
-7% Price Drop
Initial Listing
Mar 5, 2026
$1,999,000
Initial Listing