4537 E BLUE SKY Drive, Cave Creek, AZ 85331, Cave Creek, 85331 - 5 bed, 4 bath
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Cave Creek, AZ 85331
This Corner Lot Luxury Estate is a High-Potential Investment Opportunity, listed at $1,325,000—positioned well below the $1,648,800 Fair Market Value by 19%. This valuation gap offers $323,800 in Instant Equity. Boasting a Condition Rating of 2, the residence features $50,000 custom steel doors, a private theater, and a resort-style pool with mountain views. Located in the premier Diamond Creek community, it combines high-end lifestyle with immediate financial upside. This is an ideal acquisition for Owner-Occupants or Luxury Portfolio Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4537 E BLUE SKY Drive Subject | $1,325,000* List Price | 5 | 4 | 4,461 | $370 | - |
A 27812 N 46TH Place Sold | $1,300,000 | 5 | 4 | 4,461 | $291 | 0.1 mi |
B 4629 E RED BIRD Road Sold | $979,020 | 6 | 3 | 2,980 | $329 | 0.6 mi |
C 4549 E Blue Sky Drive Active | $1,400,000 List Price | 5 | 4 | 4,461 | $314 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1999, the property has undergone extensive recent renovations that align with current luxury standards. The kitchen is fully modernized with a waterfall quartz island, high-end cabinetry, and a custom range hood. The interior features updated large-format marble-look tile flooring throughout, plantation shutters, and premium architectural upgrades such as the $50,000 custom steel entry doors. The property is in move-in condition with high-quality finishes and a resort-style backyard.
The home features high-impact architectural elements, including over $50,000 in custom steel entry doors and a dedicated private theater, providing a level of sophistication and entertainment value rarely seen at this price point.
Situated on a prominent corner lot with mountain views, the backyard offers a resort-style pool, custom welded shade structures, and a covered patio designed for high-end desert entertaining and privacy.
Priced significantly below its appraised value, this 4,461-square-foot estate offers a rare opportunity to acquire substantial square footage and modern updates with immediate equity potential.
Built in 1999, the property may soon require capital improvements for major mechanical systems or roofing if they have not been replaced, despite the cosmetic interior updates.
With a substantial association fee of $528 and a large 5-bedroom floor plan, prospective buyers should anticipate higher-than-average monthly maintenance and utility expenses.
CORNER LOT ESTATE, $50K+ STEEL ENTRY DOORS, PRIVATE THEATER, RESORT-STYLE POOL Set on a prominent corner lot, this 5 bedroom home delivers scale, upgrades, and features rarely combined at this price point. A pair of custom 10x6 architectural steel entry doors creates a striking arrival and defines the tone from the moment you enter. The open kitchen connects directly to the main living areas, built for both daily function and entertaining. A dedicated private theater room offers a true separation of space and a high-impact lifestyle feature. Updated flooring adds a clean, modern base throughout the home. The backyard is designed for use with a pool, covered patio, and custom welded shade structures that create multiple covered areas and additional protected parking. The lot configuration provides flexibility, privacy, and usable outdoor space that stands apart from typical homes in the area. Priced significantly below appraised value, this is a rare opportunity to secure size, upgrades, and presence in one property.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 90% |
| Baths | 4.0 | 3.0 | 84% |
| Square foot | 4,461 | 2,282 | 98% |
| Lot Size | 10,576 | 9,335.5 | 54% |
| Price | $1.32M | $590.0K | 91% |
| Price per sq ft | $297 | $290 | 53% |
| Built year | 1999 | 1999 | 50% |
| HOA | $528 | $78 | 94% |
| Days on market | 13 | 2376 | 1% |
Apr 9, 2026
$1,325,000
Initial Listing