31250 N 40TH Place, Cave Creek, AZ 85331, Cave Creek, 85331 - 3 bed, 2 bath
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Cave Creek, AZ 85331
This Tatum Ranch Single Family Residence presents a High-Potential Investment Opportunity, listed at $485,000—positioned well above the $429,796 Fair Market Value by 12%. While the property features a Fair Condition Rating due to dated interiors, it offers significant value through a sparkling pool, mountain views, and recent mechanical upgrades including a 3-year-old HVAC. This home is an ideal candidate for those seeking a manageable footprint in a prime location. It is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants looking to build long-term equity through cosmetic updates.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 31250 N 40TH Place Subject | $485,000* List Price | 3 | 2 | 1,345 | $320 | - |
A 31066 N 44TH Way Sold | $469,900 List Price | 3 | 2 | 1,395 | 0.6 mi | |
B 4045 E DESERT MARIGOLD Drive Sold | $475,000 | 2 | 2 | 1,345 | $353 | 0.2 mi |
C 30430 N 42ND Place Sold | $499,000 | 3 | 2 | 1,436 | $347 | 0.6 mi |
D 31044 N 40TH Place Sold | $563,900 | 3 | 3 | 1,739 | $324 | 0.1 mi |
E 4443 E Chaparosa Way Sold | $500,000 | 3 | 3 | 1,674 | $299 | 0.6 mi |
F 4321 E RANCHO CALIENTE Drive Sold | $559,900 List Price | 3 | 2 | 1,810 | 0.5 mi | |
G 29854 N 42ND Street Active Under Contract | $440,000 List Price | 3 | 3 | 1,419 | $310 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1994 (30 years old), the property is well-maintained but features a dated kitchen with original cabinetry and older tile flooring. While the HVAC (3 years old) and water heater (brand new) are in excellent condition, the overall aesthetic of the kitchen and baths exceeds the 20-year threshold for modern updates, placing it in the 'Fair' category.
The property features a sparkling pool and a private backyard with no rear neighbors and mountain views, offering a serene and secluded retreat.
Recent updates including a 3-year-old HVAC, brand new water heater, and fresh exterior paint provide peace of mind and lower immediate maintenance costs for the new owner.
Situated in the sought-after Tatum Ranch neighborhood, the home is within walking distance to Desert Willow Park and offers easy access to the Sonoran Preserve trail system.
With 1,345 square feet on a 4,384 square foot lot, the property offers a smaller footprint that may not suit buyers looking for expansive interior or yard space.
The 2-bedroom plus den layout may limit appeal for families specifically requiring three formal bedrooms without the need for conversion or compromise.
Wonderful opportunity to live in the coveted Tatum Ranch neighborhood in Cave Creek. This immaculate split floorplan 2bed+den (could be a 3rd bedroom), 2bath, 1,345sqft home is primed for its new owners. Upon entering, you're greeted by a bright and open floor plan. Beautiful laminate floors in the main living room with a fireplace for those cool winter nights. The sparkling pool is summertime ready and enjoy the private yard with no neighbors behind you. Updates include a 3 year old HVAC, brand new water heater and fresh exterior paint. Walking distance to Desert Willow Park and endless hiking and biking in Sonoran Preserve and Apache Wash trail system nearby. Pride of ownership shows throughout. Don't miss your chance to come see it today!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,345 | - |
| Lot Size | 4,384 | - |
| Price | $485.0K | $800.0K |
| Price per sq ft | $361 | $353 |
| Built year | 1994 | 0 |
| HOA | $107 | $0 |
| Days on market | 68 | 3149 |
May 15, 2026
$485,000
Initial Listing