34651 N 49TH Street, Cave Creek, AZ 85331, Cave Creek, 85331 - 4 bed, 5 bath
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Cave Creek, AZ 85331
This Dual-Residence Compound represents a Strong Value Opportunity, listed at $1,875,000—positioned well below the $2,084,229 Fair Market Value by 10%. This valuation gap offers $209,229 in Instant Equity. Featuring a 2022 to-the-studs renovation and an Excellent Condition Rating, the property includes a resort-style pool, mountain views, and a full guest house. This turnkey asset is ideal for Buy-and-Hold Investors seeking high-yield STR income or Owner-Occupants desiring a versatile, multi-generational luxury estate.
Property is new construction or fully renovated.
The property underwent a complete 'to the studs' renovation in 2022, making all major components less than 5 years old. This includes new HVAC, roof, septic, and windows. The interior features high-end designer kitchens with quartz islands and Bosch/Miele appliances, along with modern designer bathrooms, placing it in mint, move-in-ready condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 108900, living area = 4608.
The property features two separate, fully reimagined residences on a 2.5-acre lot, providing exceptional versatility for multi-generational living or high-yield dual-income short-term rental opportunities.
Both structures were stripped to the studs in 2022 and updated with new roofs, HVAC systems, septic, and high-end designer finishes, offering the peace of mind and efficiency of modern construction.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 4608, other record living area = 2006.
Despite the luxury price point, the property currently lacks a finished enclosed garage, offering only a carport and requiring the buyer to undertake further construction to utilize the existing footers.
The property is located in an area without a formal subdivision name, which often implies more rugged surroundings and a lack of standardized neighborhood amenities or paved road maintenance.
Two-residence Cave Creek compound -- both structures reimagined to the studs in 2022 (septic, stucco, windows, roof, HVAC, foam insulation). Main residence: exposed beams, linear fireplace, luxury vinyl, Envoy Roma-Shaker kitchen w/ 10x5 quartz island, Bosch & KitchenAid, walk-in pantry, designer baths. Full guest house w/ own HVAC, remote gate, carport: Thomasville kitchen, quartz, Miele/Samsung, 3 walk-in closets, master bath. Resort yard: 2022 pebble-tec pool w/ waterslide & full Pentair, Blue Kota Stone outdoor kitchen, kiva fireplace, firepit, mountain-view deck, 4 storage buildings, designer privacy walls, raised garden beds. Hardwired Ring, low-voltage lighting, footers ready for garage. Currently active STR -- turn-key for compound living, multi-gen, or doubled income.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.5 | 50% |
| Baths | 5.0 | 3.0 | 96% |
| Square foot | 4,608 | 2,282 | 98% |
| Lot Size | 108,900 | 9,262.5 | 96% |
| Price | $1.88M | $502.5K | 97% |
| Price per sq ft | $407 | $272 | 84% |
| Built year | 1979 | 1999 | 3% |
| HOA | $0 | $78 | 23% |
| Days on market | 19 | 2645 | 1% |
May 19, 2026
$1,875,000
Initial Listing