Ground-Level Short-Term Rental
For Sale
$579,000
36601 N MULE TRAIN Road A40, Carefree, AZ 85377
The step-free layout includes two primary suites and three full bathrooms.
Property Size1,975 SF
Price / SF$293.16
Days on Market133
Property Features for 36601 N MULE TRAIN Road A40
General Information
Standard status
Active
Size
1,975 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,461
Amenities
gated community
resort style community pool
spa
clubhouse
Building Details
Building Size
1,975 SF
Year Built
2005
Listing Agency:
HomeSmart
Listed By:
Corey Frederic · License #SA633441000
(480) 208-7955
Source:
Goddeshomes
Added: Jun 17
Changed: Oct 26
Last Checked: Oct 26 at 3:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeSmart
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Investment Insights
Based on property information with market context.
Set within the gated Village at Carefree, this ground-level condo offers 1,975 square feet, two primary suites, and three full bathrooms. The interior has no steps. A one-car garage and additional guest parking provide vehicle access, and furnishings and decor are available. The property was built in 2005 and has two newer AC units and a water heater.
Community amenities include a pool, spa, and clubhouse, located three doors from the condo. Desert Forest, Civana Wellness Resort & Spa, and Skyranch Airstrip are identified as nearby destinations.
Community amenities include a pool, spa, and clubhouse, located three doors from the condo. Desert Forest, Civana Wellness Resort & Spa, and Skyranch Airstrip are identified as nearby destinations.
Key Highlights
- 1,975‑square‑foot ground‑level condo with no interior steps
- Two primary suites and 3 full bathrooms
- One‑car garage plus outer guest parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,290
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,800
$445.8K
Cap Rate 7%
$318,429
$318.4K
Cap Rate 9%
$247,667
$247.7K
Market Conditions
NOI Build-Up for 1,975 SF
Gross rent
$42.7K $21.60/SF
− Vacancy
−$2.1K −$1.08/SF
EGI
$40.5K $20.52/SF
− OpEx
−$18.2K −$9.23/SF
NOI
$22.3K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,800
Cap Rate 7%
$318,429
Cap Rate 9%
$247,667
Alternative Uses
Best Use
Apartment 5plus
$318.4K
$278.6K – $371.5K
NOI $22,290 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.9K
$534.6K – $712.7K
NOI $42,764 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 85377, AZ
3,515
Population
2,258
Households
1.6
Avg Household Size
65
Median Age
64%
College-Educated
99%
High-School Grad
8.6 sq mi
ZIP Area
409
Density / Sq Mi
$143,315
Median Household Income
$58,147
Median Earnings
$1,685
Median Rent
$1,058,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Short term rental property - The step-free layout includes two primary suites and three full bathrooms.
Where is this short term rental property located?
The property is located at 36601 N MULE TRAIN Road A40 Carefree, AZ.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 1,975‑square‑foot ground‑level condo with no interior steps; Two primary suites and 3 full bathrooms; One‑car garage plus outer guest parking
