5040 E Rockaway Hills Drive, Cave Creek, AZ 85331, Cave Creek, 85331 - 4 bed, 5 bath
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Cave Creek, AZ 85331
Analysis of 5040 E Rockaway Hills Drive, Cave Creek, AZ 85331 is currently available with a list price of $2,495,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Cave Creek Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 2002, the property is 23 years old and falls into the >20y category. While high-end and well-maintained, the kitchen and bathrooms feature original finishes like tiled countertops and early-2000s cabinetry that are now dated and require modern updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 217800, living area = 4471.
Situated on 5 private acres, this property offers unparalleled privacy and breathtaking panoramic mountain views, capturing the essence of Arizona's natural desert beauty.
The exterior features a sophisticated infinity lap pool, an elevated deck, and a wrap-around patio, creating an ideal environment for high-end entertaining and relaxation.
Built in 2002, the property may require cosmetic updates or mechanical system refreshes to align with the contemporary aesthetic expectations of today's luxury buyers.
The expansive 5-acre desert lot and infinity pool require significant ongoing maintenance and landscaping upkeep to preserve the property's pristine condition and curb appeal.
Perched on 5 private acres with stunning mountain views, this home captures Arizona living at its best. Soaring ceilings & expansive windows fill the open split floorplan with natural light, showcasing panoramic sunrises & sunsets. The owner's retreat has two large glass sliders that lead to the wrap-around patio and the most beautiful views of the natural desert. The master suite is set apart from a private wing which is complete with an office and 3 ensuite bedrooms. A pavered drive leads to plenty of guest parking, a courtyard entry & 3-car garage. Perfect for entertaining yet peaceful for everyday living, the back patio overlooks a fenced yard, elevated deck & infinity lap pool. Just minutes from the charm of Cave Creek, this retreat offers both convenience & tranquility.
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 | 4,471 | 2,282 | 98% |
| Lot Size | 217,800 | 9,262.5 | 99% |
| Price | $2.50M | $502.5K | 98% |
| Price per sq ft | $558 | $272 | 96% |
| Built year | 2002 | 1999 | 67% |
| HOA | $0 | $78 | 23% |
| Days on market | 253 | 2644 | 12% |
May 21, 2026
$2,495,000
$2,540,000
-2% Price Drop
Initial Listing
Sep 26, 2025
$2,540,000
Initial Listing