Dove Valley Ranch - Cave Creek

Dove Valley Ranch is located at 91ST AVENUE AND BEARDSLEY. The average list price in Dove Valley Ranch is currently 290k. Most homes in this subdivision are between 2k-4200 sqft. Property taxes are considered high, averaging 1600-2200 annually for 250k home. This is about 34% higher than other locations in Phoenix and the east valley. However, this seems to be right in line with property taxes such as Scottsdale. We expect property taxes to go down as Cave Creek expands and the city is able to tax more businesses instead of Residential. HOA is Dove Valley Ranch is $34.00/monthly and covers the common areas. We find the HOA fee in this subdivision to be reasonably priced and in line with the market.
		Dove Valley Ranch School Information Ele Sch Dist: 011 - Peoria Unified District Elementary School: Coyote Hills Jr. High School: Coyote Hills High School Dist #: 011 - Peoria Unified District High School: Sunrise Mountain

 

		Cromford Report for 85382-Dove Valley Ranch August 2008, this zip code averaged $124 per sqft which is the highest level it's been since. Current sales show this zip code is now averaging $91 per sqft. About the same as 85032 which is due South of this zip code. While the recent drop in Price per sqft is a sign of recent foreclosures, the peak of $124 per sqft is evidence the Cave Creek is still not a high demand place to live. High Property taxes and the distance from central Phoenix are keeping values low.
We expect Cave Creek to continue to average less than $100 per sqft for the next 5 years or until major corporation consider relocating to this area to spur growth.

Dove Valley Ranch Rentals

Dove Valley Ranch Rentals are very hard to come by. Most residents that live in Dove Valley Ranch own their roperties.Very few investors have stepped into this area to lease properties. This makes Dove Valley Ranch a great place to own a rental property. Most rentals in this area average less than 30 days on market. Currently most rentals in North Phoenix are averaging 45-60 days. The lack of home inventory and the demand for rentals is allowing rental prices to to be 10-20% higher than typical homes in Central Phoenix.

The typical 160k home that is 1800 sqft can lease for 1300 monthly. Payments for such a loan with 20% down investor rate of 6.5% APR gives a payment of 809pi. Taxes of $1600 annually and $550 for hazard bring the payment to about 988piti per month. This gives the investor a $311 spread. This is a great return on investment considering the high demand for rentals in this area. For more information on Dove Valley Ranch Rentals or if you would like property management information, please contact us.