Three-Bedroom Residential Income
For Sale
$389,000
Pending
4630 N 68TH Street 231, Scottsdale, AZ 85251
Residence with a main-level primary suite, private patio access, and a dedicated carport positioned near the unit.
Property Size1,287 SF
Days on Market271
Property Features for 4630 N 68TH Street 231
General Information
Standard status
Pending
Size
1,287 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$691
Building Details
Building Size
1,287 SF
Year Built
1974
Listing Agency:
My Home Group Real Estate
Listed By:
Karyn Nelsen · License #SA654517000
(928) 978-3246
Source:
Alexiabertsatos
Added: Dec 11, 2025
Changed: Sep 8
Last Checked: Aug 28 at 5:49PM
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.
Located at 4630 N 68TH Street 231 in Scottsdale, this residential income property was built in 1974 and includes three bedrooms arranged across two levels. The main level contains the primary suite with direct access to a private patio, while two guest bedrooms are located upstairs. Multiple windows bring natural light into the living areas, and one upper-level bedroom features views toward Camelback Mountain.
A dedicated carport sits directly in front of the residence, and residents have access to community amenities. The property is positioned near Fashion Square and Old Town, with walkable access to dining, shopping, and entertainment. Its central Scottsdale setting places everyday amenities and established attractions within the surrounding area.
A dedicated carport sits directly in front of the residence, and residents have access to community amenities. The property is positioned near Fashion Square and Old Town, with walkable access to dining, shopping, and entertainment. Its central Scottsdale setting places everyday amenities and established attractions within the surrounding area.
Key Highlights
- Three‑bedroom residence with two guest bedrooms upstairs
- Main‑level primary suite with private patio access
- Upper‑level bedroom includes Camelback Mountain views
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
$14,892
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
3.83%
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%
$297,840
$297.8K
Cap Rate 7%
$212,743
$212.7K
Cap Rate 9%
$165,467
$165.5K
Market Conditions
NOI Build-Up for 1,287 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
$28.3K $21.96/SF
− Vacancy
−$1.2K −$0.92/SF
EGI
$27.1K $21.04/SF
− OpEx
−$12.2K −$9.47/SF
NOI
$14.9K $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%
$297,840
Cap Rate 7%
$212,743
Cap Rate 9%
$165,467
Alternative Uses
Best Use
Apartment 5plus
$212.7K
$186.2K – $248.2K
NOI $14,892 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$422.5K
$369.7K – $492.9K
NOI $29,574 @ 7.0% cap · market cap 7.60%
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residence with a main-level primary suite, private patio access, and a dedicated carport positioned near the unit.
Where is this residential income property located?
The property is located at 4630 N 68TH Street 231 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Three‑bedroom residence with two guest bedrooms upstairs; Main‑level primary suite with private patio access; Upper‑level bedroom includes Camelback Mountain views
