Updated Ground-Floor Short-Term Rental
For Sale
$330,000
4610 N 68TH Street 477, Scottsdale, AZ 85251
Single-level condo with refreshed interiors, private patio access, covered parking, and access to multiple community pools.
Property Size1,020 SF
Days on Market255
Property Features for 4610 N 68TH Street 477
General Information
Standard status
Active
Size
1,020 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$611
Amenities
covered parking
community pools
greenbelts
BBQ areas
patio access
Building Details
Building Size
1,020 SF
Year Built
1974
Listing Agency:
My Home Group Real Estate
(928) 978-3246
Listed By:
Karyn Nelsen · License #SA654517000
(928) 978-3246
Source:
Jcluxuryresidential
Added: Dec 9, 2025
Changed: Aug 18
Last Checked: Aug 20 at 12:35PM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
This ground-level condo is configured as a single-story townhome within Camelback House. The interior includes an open great-room layout, patio access, engineered hardwood flooring, plantation shutters, updated lighting, and neutral paint. The kitchen is equipped with staggered cabinetry, granite countertops, an island, and stainless steel appliances. The unit is described as updated and well maintained.
Community features include covered parking, four pools, greenbelt areas, and barbecue spaces. The property is near Fashion Square, Old Town, and the Waterfront District in Scottsdale. Short-term and Airbnb-style rentals are permitted within the community, providing a documented use characteristic for this residential income property. Built in 1974.
Community features include covered parking, four pools, greenbelt areas, and barbecue spaces. The property is near Fashion Square, Old Town, and the Waterfront District in Scottsdale. Short-term and Airbnb-style rentals are permitted within the community, providing a documented use characteristic for this residential income property. Built in 1974.
Key Highlights
- Community permits short‑term and Airbnb‑style rentals
- Ground‑floor, single‑level townhome layout
- Open great room with direct patio access
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
$11,802
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
3.58%
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%
$236,040
$236.0K
Cap Rate 7%
$168,600
$168.6K
Cap Rate 9%
$131,133
$131.1K
Market Conditions
NOI Build-Up for 1,020 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
$22.4K $21.96/SF
− Vacancy
−$941 −$0.92/SF
EGI
$21.5K $21.04/SF
− OpEx
−$9.7K −$9.47/SF
NOI
$11.8K $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%
$236,040
Cap Rate 7%
$168,600
Cap Rate 9%
$131,133
Alternative Uses
Best Use
Apartment 5plus
$168.6K
$147.5K – $196.7K
NOI $11,802 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$334.8K
$293.0K – $390.7K
NOI $23,439 @ 7.0% cap · market cap 7.10%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Single-level condo with refreshed interiors, private patio access, covered parking, and access to multiple community pools.
Where is this short term rental property located?
The property is located at 4610 N 68TH Street 477 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Community permits short‑term and Airbnb‑style rentals; Ground‑floor, single‑level townhome layout; Open great room with direct patio access
