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$849,000

For Sale - Active
7157 E Rancho Vista Dr Unit 3009, Scottsdale, AZ 85251
2 Beds
2 Baths
1,346 Square Feet
0.03 Acres Lot
Built in 2007
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jun 20, 2025 at 03:36AM

Investment Summary


Monthly Cash Flow
-$1,640
Cap Rate
3.9%
Cash-on-Cash Return
-10.1%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.8%

Property Description


0.03 Acres Lot
Built in 2007
For Sale - Active
Units n/a

Discover the height of urban luxury in this pristine 2-bedroom, 2-bathroom condo, complete with an additional office/den, ideally located in the heart of Scottsdale's renowned Optima Camelview Village. Spanning 1,346 sq. ft., this contemporary condo has been thoughtfully updated and meticulously maintained, offering a perfect blend of modern style and everyday comfort. Floor-to-ceiling windows flood the open living space with natural light, framing tranquil views of the lush, landscaped courtyards. The gourmet kitchen is designed for both functionality and elegance, featuring quartz countertops, a gas stovetop, and premium Belmont and Thomasville cabinetry. This exceptional residence also includes a reverse osmosis water filtration system, dual air conditioning units, porcelain and granite surfaces, energy-efficient LED lighting, and a NEST smart thermostat for effortless climate control. The spacious primary suite offers a luxurious en-suite bathroom with an upgraded glass-enclosed shower and generous walk-in closets. As a resident of Optima Camelview, you'll enjoy resort-style amenities, including multiple pools, a state-of-the-art fitness center, and beautifully manicured grounds all just steps from Scottsdale's best dining, shopping, and entertainment. This spotless, updated condo includes two reserved parking spaces and is truly move-in ready.

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Location


Property Details


Parking

  • Description: Electric Door Opener, Assigned, Community Structure, Gated, Electric Vehicle Charging Station(s)
  • Details: Gated, Garage Door Opener, Assigned, Community Structure
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 7

Exterior Features

  • Exterior Walls Materials: Other
  • Roof Material: Other
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: Optima Camelview
  • HOA Fee: $955/monthly

Land Information

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

Lot Information

  • Parcel ID: 17333719
  • Lot Size: 1351 sqft

Property Information

  • Property Type: Apartment
  • Style: Contemporary
  • Year Built: 2007

Tax Information

  • Annual Tax: $2,233

Utilities

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

Location

  • County: Maricopa

Listing Details


Listed by:
Emily Rollins
Williams Luxury Homes
(602) 550-4156

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6850128
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$1,640
Cap Rate
3.9%
Cash-on-Cash Return
-10.1%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.8%

Purchase Details

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Purchase price:
$849,000
Amount financed:
-$679,200
Down payment:
$169,800
Closing costs:
$25,470
Rehab costs:
$0
Initial cash invested:
$195,270
Square feet:
1,346
Cost per square foot:
$631
Monthly rent per square foot:
$4.23

Financing Details

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Loan amount:
$679,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$4,432
Property tax:
$186
Insurance:
$399
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,017

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,700 $68,400
Vacancy loss: (6%)
6% -$342 -$4,104
Operating income:
$5,358 $64,296

Operating Expenses


% Rent Monthly Yearly
Property taxes: (3%)
3%-$186-$2,233
Insurance: (7%)
7%-$399-$4,788
Property management: (8%)
8%-$456-$5,472
Repairs & maintenance: (5%)
5%-$285-$3,420
Capital expenditures: (5%)
5%-$285-$3,420
HOA fees: (17%)
17%-$955-$11,460
Total operating expenses: (45%)
45%-$2,566-$30,793

Cash Flow


Monthly Yearly
Net operating income:
$2,792 $33,504
Mortgage payments:
-$4,432 -$53,184
Cash flow:
$1,640 $19,680