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$319,999

For Sale - Active
7008 E Gold Dust Ave Apt 234, Paradise Valley, AZ 85253
2 Beds
2 Baths
917 Square Feet
0.02 Acres Lot
Built in 1989
For Sale - Active
Units n/a
Checked: 3 hours ago
Updated: Apr 23, 2025 at 09:48PM

Investment Summary


Monthly Cash Flow
-$815
Cap Rate
3.2%
Cash-on-Cash Return
-13.3%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-8.9%

Property Description


0.02 Acres Lot
Built in 1989
For Sale - Active
Units n/a

Discover this beautifully updated second-floor condo in the prestigious Community of Barcelona in Paradise Valley. This bright and airy home features high ceilings, flooding the space with natural light. Offering two spacious master bedrooms, each with its own private ensuite bathroom, including a shower or bathtub, this home is designed for comfort and convenience.The kitchen is a dream, boasting new cabinets, new countertops, and abundant natural light with a scenic view outside. The open-concept layout seamlessly connects to a cozy patio, perfect for relaxing. Additional highlights include in-unit laundry, new flooring throughout, fresh paint, and updated bathtubs. Located just minutes from premier shopping, dining, and entertainment, this home offers quick access to Highways.

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Location


Property Details


Parking

  • Description: Assigned
  • Details: Assigned, Common
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: Barcelona
  • HOA Fee: $300/monthly

Land Information

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

Lot Information

  • Parcel ID: 17549183
  • Lot Size: 922 sqft

Property Information

  • Property Type: Apartment
  • Style: Spanish
  • Year Built: 1989

Tax Information

  • Annual Tax: $969

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Maricopa

Listing Details


Listed by:
Sunny Rostami
Expert Realty LLC
(602) 300-3755

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6843398
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$815
Cap Rate
3.2%
Cash-on-Cash Return
-13.3%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-8.9%

Purchase Details

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Purchase price:
$319,999
Amount financed:
-$255,999
Down payment:
$64,000
Closing costs:
$9,600
Rehab costs:
$0
Initial cash invested:
$73,600
Square feet:
917
Cost per square foot:
$349
Monthly rent per square foot:
$1.96

Financing Details

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Loan amount:
$255,999
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,676
Property tax:
$81
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,883

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$81-$969
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (17%)
17%-$300-$3,600
Total operating expenses: (46%)
46%-$831-$9,969

Cash Flow


Monthly Yearly
Net operating income:
$861 $10,332
Mortgage payments:
-$1,676 -$20,112
Cash flow:
$815 $9,780