31045 N 48TH Street, Cave Creek, AZ 85331, Cave Creek, 85331 - 6 bed, 5 bath
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Cave Creek, AZ 85331
This Multi-Generational Equestrian Estate is listed at $1,349,000, offering a stable acquisition at its $1,349,000 Fair Market Value. The property holds a Condition Rating of 4, featuring a unique dual-dwelling configuration: a classic 1979 main residence and a newer 1,500 sqft modern casita. Situated on over an acre, the estate boasts a private pool, barn, and outdoor kitchen, providing exceptional utility for horse enthusiasts. With paved-road access and dual septic systems, this property is perfectly suited for Multi-Generational Families or Owner-Occupants seeking a high-utility lifestyle asset with value-add potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 31045 N 48TH Street Subject | $1,349,000* List Price | 6 | 5 | 4,000 | $337 | - |
A 4727 E RANCHO CALIENTE Drive Active | $1,349,000 List Price | 5 | 3 | 3,854 | $350 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property features a significant contrast in condition between the two dwellings. The newer casita is in excellent, modern condition. However, the primary residence, built in 1979, is dated and requires cosmetic updates. The main kitchen (Image 4) shows older cabinetry, tile countertops, and a fluorescent light box, while the Saltillo tile flooring reflects an older style. While functional and well-maintained, the main home shows signs of its age and lacks recent comprehensive renovations.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 44063, living area = 4000.
The property features a substantial 1,500 sq. ft. modern casita with 2 bedrooms and 2 bathrooms, offering high-quality, move-in-ready accommodations for guests or extended family.
Set on over an acre, the estate is fully equipped for outdoor living with a private pool, outdoor kitchen, fireplace, and a barn, catering perfectly to horse owners and entertainers alike.
The primary 3-bedroom home was built in 1979 and requires interior updates to bring it up to the modern standards seen in the newer casita.
Prospective buyers will need to budget for significant additional investment to renovate the main house, as it is currently positioned as a 'canvas' for customization rather than a turnkey estate.
Set on over an acre along a paved road in the heart of Cave Creek, this exceptional horse property offers rare versatility--ideal for a multi-generational family residence. The main residence features 3-bedroom, 2 bathrooms with a solid footprint and classic character, providing the perfect canvas for thoughtful updates to customize to your taste. Complementing the main home, the casita offers 2-bedrooms, 2 bathrooms approximately 1,500 square feet of newer construction with modern finishes, delivering move-in-ready accommodations for extended family or guests. Designed for outdoor living and entertaining, the property features a private backyard oasis complete with a barn, pool, fireplace, outdoor kitchen, and expansive low-maintenance artificial turf--creating a resort-style atmosphere with minimal upkeep. The generous acreage provides ample room for horses, recreation, and privacy while still offering convenient paved-road access. Two separate septic systems further enhance the property's flexibility and long-term functionality for multiple dwellings. This is a rare opportunity to own a highly adaptable estate in Cave Creek, where a few interior updates to the main home could transform the property into a truly remarkable property tailored to your vision.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 3.0 | 98% |
| Baths | 5.0 | 3.0 | 97% |
| Square foot | 4,000 | 2,250 | 92% |
| Lot Size | 44,063 | 9,426 | 80% |
| Price | $1.35M | $590.0K | 92% |
| Price per sq ft | $337 | $291 | 62% |
| Built year | 1979 | 1999 | 6% |
| HOA | $120 | $78 | 60% |
| Days on market | 105 | 2381 | 1% |
Jan 7, 2026
$1,349,000
Initial Listing