Remodeled First-Floor Residential Income
For Sale
$260,000
4610 N 68TH Street 407, Scottsdale, AZ 85251
Furnished condo with updated interiors, a patio, and access to multiple community amenities.
Property Size702 SF
Days on Market21
Property Features for 4610 N 68TH Street 407
General Information
Standard status
Active
Size
702 SF
Property subtype
Apartment
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$347
Amenities
pool
bbq area
shuffleboard
laundry facilities
patio
Building Details
Building Size
702 SF
Year Built
1974
Listing Agency:
Realty ONE Group
(480) 717-7204
Listed By:
Celeste LaRocque-Wolfe
(480) 717-7204
Source:
Alexiabertsatos
Added: Jul 22
Changed: Aug 11
Last Checked: Aug 11 at 6:20AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This first-floor condominium offers a remodeled kitchen and bathroom, new flooring throughout, and interior paint completed in June '25. The sale includes the furniture and kitchen items, while a quiet patio overlooks a large green area. The residence is positioned near one of the community pools and laundry facilities, supporting convenient everyday use and furnished occupancy.
Community amenities include 4 pools, BBQ areas, shuffleboard, landscaped grounds, and laundry facilities. The property also includes assigned covered parking and additional guest parking. Its location is across the street from Fashion Square Mall and near Old Town Scottsdale, with dining, shopping, and entertainment in the surrounding area. The property was built in 1974 and is identified for residential income and short-term rental use.
Community amenities include 4 pools, BBQ areas, shuffleboard, landscaped grounds, and laundry facilities. The property also includes assigned covered parking and additional guest parking. Its location is across the street from Fashion Square Mall and near Old Town Scottsdale, with dining, shopping, and entertainment in the surrounding area. The property was built in 1974 and is identified for residential income and short-term rental use.
Key Highlights
- Remodeled kitchen, bathroom, and flooring throughout
- Interior painted in June '25
- Furniture and kitchen items convey
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,123
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$162,460
$162.5K
Cap Rate 7%
$116,043
$116.0K
Cap Rate 9%
$90,256
$90.3K
Market Conditions
NOI Build-Up for 702 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.4K $21.96/SF
− Vacancy
−$647 −$0.92/SF
EGI
$14.8K $21.04/SF
− OpEx
−$6.6K −$9.47/SF
NOI
$8.1K $11.57/SF
Area
Scottsdale, AZ
Vacancy
4.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$162,460
Cap Rate 7%
$116,043
Cap Rate 9%
$90,256
Alternative Uses
Best Use
Apartment 5plus
$116.0K
$101.5K – $135.4K
NOI $8,123 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$230.4K
$201.6K – $268.9K
NOI $16,131 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 85251, AZ
40,073
Population
26,456
Households
1.5
Avg Household Size
39
Median Age
60%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
5,566
Density / Sq Mi
$89,151
Median Household Income
$60,282
Median Earnings
$1,771
Median Rent
$500,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Furnished condo with updated interiors, a patio, and access to multiple community amenities.
Where is this residential income property located?
The property is located at 4610 N 68TH Street 407 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Remodeled kitchen, bathroom, and flooring throughout; Interior painted in June '25; Furniture and kitchen items convey
