Remodeled Residential Income
7960 E Camelback Road #408, Scottsdale, AZ 85251
For Sale
New
$324,000
End-unit condo with mountain and golf course views, updated interior finishes, and assigned garage parking.
Property Size1,200 SF
Price / SF$270
Days on Market4
Property Features for 7960 E Camelback Road #408
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
guard-gate
storage locker
on-site staff
3/4 Bath Master Bdrm
Quartz Countertops
High Speed Internet
Elevator
No Interior Steps
Balcony
Building Details
Building Size
Year Built
Stories
Listing Agency:
HomeSmart
(602) 230-7600
Listed By:
Jodi Geiger · License AZ SA662807000
(602) 321-4149
Source:
Justsellingaz
Added: Nov 11
Changed: Nov 13
Last Checked: Nov 13 at 4:43PM
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.
This 1,200-square-foot end-unit condo has an open-plan kitchen and living area, a dining or flex alcove, and two bedrooms. Renovations include LVP flooring, smooth finished ceilings, new windows and patio slider, updated bathroom vanities and fixtures, and new appliances, including a smart cooktop. The primary bedroom has a step-in shower with a glass partition; the guest bath includes a tub with tiled surround. An assigned ground-level garage space and a same-floor storage locker are included. A small faux-grass area is set on the patio.
The condo overlooks mountains and a golf course. The HOA covers water, sewer, trash, blanket insurance, guard-gate service, and most electricity; residents pay separately for small plug-in loads. The property was built in 1974, and the community is maintained by on-site staff.
The condo overlooks mountains and a golf course. The HOA covers water, sewer, trash, blanket insurance, guard-gate service, and most electricity; residents pay separately for small plug-in loads. The property was built in 1974, and the community is maintained by on-site staff.
Key Highlights
- 1,200‑square‑foot end‑unit condo with mountain and golf course views
- Remodeled interior includes new windows, patio slider, appliances, lighting, plumbing hardware, and electrical panel
- Assigned ground‑level garage parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,885
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,700
$277.7K
Cap Rate 7%
$198,357
$198.4K
Cap Rate 9%
$154,278
$154.3K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$26.4K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$25.2K $21.04/SF
− OpEx
−$11.4K −$9.47/SF
NOI
$13.9K $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 Rate 5%
$277,700
Cap Rate 7%
$198,357
Cap Rate 9%
$154,278
Alternative Uses
Best Use
Apartment 5plus
$198.4K
$173.6K – $231.4K
NOI $13,885 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$393.9K
$344.7K – $459.6K
NOI $27,575 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,238
Businesses Nearby
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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
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Market
Properties on Market for Residential income properties in Scottsdale
Frequently Asked Questions
What type of property is this?
Residential income property - End-unit condo with mountain and golf course views, updated interior finishes, and assigned garage parking.
Where is this residential income property located?
The property is located at 7960 E Camelback Road #408 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $324,000.
What are key features of this property?
This property features: 1,200‑square‑foot end‑unit condo with mountain and golf course views; Remodeled interior includes new windows, patio slider, appliances, lighting, plumbing hardware, and electrical panel; Assigned ground‑level garage parking
