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$358,800

For Sale - Active
9990 N Scottsdale Rd Apt 1006, Paradise Valley, AZ 85253
2 Beds
2 Baths
973 Square Feet
0.02 Acres Lot
Built in 1994
For Sale - Active
Units n/a
Checked: 6 hours ago
Updated: Jun 02, 2025 at 03:13AM

Investment Summary


Monthly Cash Flow
-$851
Cap Rate
3.4%
Cash-on-Cash Return
-12.4%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-8.0%

Property Description


0.02 Acres Lot
Built in 1994
For Sale - Active
Units n/a

Charming Furnished Ground-Level Condo in the highly sought-after Verona Condominiums, a gated community in the heart of Paradise Valley! This beautiful 2-bedroom, 2-bathroom, lock and leave, ground-level condo offers the perfect blend of comfort and convenience. Step inside to find a bright and open living space, tastefully furnished for a cozy yet stylish ambiance. The well-appointed kitchen features modern appliances and ample cabinetry. The spacious primary suite boasts an en-suite bathroom and generous closet space, while the second bedroom is perfect for guests, a home office, or additional living space. Enjoy Arizona's beautiful weather on your private patio, or take advantage of the community amenities, including a resort-style pool, with a gated entrance for extra security and piece of mind. Located just minutes from world-class dining, shopping, golf courses, and hiking trails, this condo is ideal as a primary residence, vacation home, or investment property. Don't miss out on this turnkey opportunity in one of the most desirable areas of Paradise Valley!

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Location


Property Details


Parking

  • Description: Assigned, Community Structure
  • Details: Assigned, Community Structure
  • Garage Spaces: 0
  • Spaces Total: 0

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
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: Verona
  • HOA Fee: $275/monthly

Land Information

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

Lot Information

  • Parcel ID: 17556009
  • Lot Size: 960 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1994

Tax Information

  • Annual Tax: $922

Utilities

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

Location

  • County: Maricopa

Listing Details


Listed by:
Maria J Boetger
HomeSmart
(480) 329-5926

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6821605
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$851
Cap Rate
3.4%
Cash-on-Cash Return
-12.4%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-8.0%

Purchase Details

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Purchase price:
$358,800
Amount financed:
-$287,040
Down payment:
$71,760
Closing costs:
$10,764
Rehab costs:
$0
Initial cash invested:
$82,524
Square feet:
973
Cost per square foot:
$369
Monthly rent per square foot:
$2.06

Financing Details

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Loan amount:
$287,040
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,879
Property tax:
$77
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,096

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$77-$922
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (14%)
14%-$275-$3,300
Total operating expenses: (43%)
43%-$852-$10,222

Cash Flow


Monthly Yearly
Net operating income:
$1,028 $12,336
Mortgage payments:
-$1,879 -$22,548
Cash flow:
$851 $10,212