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$749,900

For Sale - Active
6231 E Mark Way Unit 10, Cave Creek, AZ 85331
2 Beds
2 Baths
1,780 Square Feet
0.12 Acres Lot
Built in 2013
For Sale - Active
Units n/a
Checked: 8 hours ago
Updated: Sep 29, 2025 at 10:06AM

Investment Summary


Monthly Cash Flow
-$1,543
Cap Rate
3.2%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.57
Internal Rate of Return (5 years)
-6.4%

Property Description


0.12 Acres Lot
Built in 2013
For Sale - Active
Units n/a

Charming Lock-and-Leave Gem Near Black Mountain - Nestled on a quiet street at the base of iconic Black Mountain, this beautifully maintained 2-bedroom plus den, 2-bath home offers the perfect blend of comfort and convenience - just a 5 min. stroll to Cave Creek's popular shops and restaurants. Enjoy elegant features like rich wood flooring, granite countertops, custom shutters throughout, and a gas range in the well-appointed kitchen. The flexible den space is perfect for a home office, hobby room, or extra guest area. The inviting outdoor space includes a covered patio - ideal for relaxing or entertaining. With no interior steps, this home is practical as it is stylish. The attached epoxy-coated garage features a full wall of built-in cabinets for extra storage. Community amenities are just steps away and include a fitness center, lounge, heated pool and spa, and BBQ area. A wonderful home in a prime location, schedule your showing today! Exterior painted in 2024.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage Door Opener, Direct Access
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: Rancho Madera
  • HOA Fee: $265/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 21113256
  • Lot Size: 5188 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Other
  • Year Built: 2013

Tax Information

  • Annual Tax: $1,727

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: Central Air, Ceiling Fan(s), ENERGY STAR Qualified Equipment

Location

  • County: Maricopa

Listing Details


Listed by:
Katherine Koenig
Fathom Realty Elite
(602) 619-0502

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6898369
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$1,543
Cap Rate
3.2%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.57
Internal Rate of Return (5 years)
-6.4%

Purchase Details

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Purchase price:
$749,900
Amount financed:
-$599,920
Down payment:
$149,980
Closing costs:
$22,497
Rehab costs:
$0
Initial cash invested:
$172,477
Square feet:
1,780
Cost per square foot:
$421
Monthly rent per square foot:
$1.97

Financing Details

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Loan amount:
$599,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,549
Property tax:
$144
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,938

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$144-$1,727
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (8%)
8%-$265-$3,180
Total operating expenses: (37%)
37%-$1,284-$15,407

Cash Flow


Monthly Yearly
Net operating income:
$2,006 $24,072
Mortgage payments:
-$3,549 -$42,588
Cash flow:
-$1,543 -$18,516