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$680,000

For Sale - Active
17850 N 68th St Unit 2129, Phoenix, AZ 85054
3 Beds
2 Baths
1,868 Square Feet
0.04 Acres Lot
Built in 2016
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jun 22, 2025 at 03:18AM

Investment Summary


Monthly Cash Flow
-$1,886
Cap Rate
2.4%
Cash-on-Cash Return
-14.5%
Debt Coverage Ratio
0.41
Internal Rate of Return (5 years)
-10.0%

Property Description


0.04 Acres Lot
Built in 2016
For Sale - Active
Units n/a

Wow, perfect location in the complex. Building has an ELEVATOR(so no stairs needed to get to second floor)!One balcony overlooks green space, balcony off the primary overlooks the pool in this beautiful, highly upgraded condo in a North Scottsdale gated community!! This unit also has tile through-out the living area, only carpet is in the bedrooms! Oversized, extended 2 car garage w/ epoxy, too! Gourmet kitchen w/ SS appliances, quartz countertops w/ custom design and stained cabinets, backsplash, breakfast bar, soft close & pull-outs. Large laundry w/ storage. Rare 3 true bedrooms in this unit!!! Don't want to miss this beautiful home in an ideal location both in the city & in the complex!! Minutes from Scottsdale Quarter, Kierland Commons, Desert Ridge, City North-easy freeway access, yet so quiet and relaxing you will forget you are so close to everything-restaurants, shopping and large area employers!!! This unit has no direct exposure to the sun, but is still flooded with natural light and low utility bills!!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 3

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: Monterey Ridge HOA
  • HOA Fee: $549/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 21507299
  • Lot Size: 1755 sqft

Property Information

  • Property Type: Apartment
  • Style: Contemporary
  • Year Built: 2016

Tax Information

  • Annual Tax: $3,090

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air

Location

  • County: Maricopa

Listing Details


Listed by:
Melinda Muller
Arizona Best Real Estate
(480) 980-5213

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6847346
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$1,886
Cap Rate
2.4%
Cash-on-Cash Return
-14.5%
Debt Coverage Ratio
0.41
Internal Rate of Return (5 years)
-10.0%

Purchase Details

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Purchase price:
$680,000
Amount financed:
-$544,000
Down payment:
$136,000
Closing costs:
$20,400
Rehab costs:
$0
Initial cash invested:
$156,400
Square feet:
1,868
Cost per square foot:
$364
Monthly rent per square foot:
$1.66

Financing Details

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Loan amount:
$544,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,218
Property tax:
$258
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,693

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$258-$3,090
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (18%)
18%-$549-$6,588
Total operating expenses: (51%)
51%-$1,582-$18,978

Cash Flow


Monthly Yearly
Net operating income:
$1,332 $15,984
Mortgage payments:
-$3,218 -$38,616
Cash flow:
$1,886 $22,632