4850 E DESERT COVE Avenue 118, Scottsdale, AZ 85254, Scottsdale, 85254 - 2 bed, 2 bath
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Scottsdale, AZ 85254
This Ground-Level Scottsdale Condominium is a High-Potential Investment Opportunity listed at $365,000—positioned well below the $421,391 Fair Market Value by 13%. This valuation gap secures $56,391 in Instant Equity. Boasting a Good Condition Rating with a newer HVAC and electrical panel, the interior offers significant cosmetic upside. Located in the top-rated Sequoya Elementary district (9/10), the property uniquely permits Short-Term Rentals, a rare Scottsdale feature that maximizes ROI. It is a perfect match for Buy-and-Hold Investors or Owner-Occupants looking to build immediate wealth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4850 E DESERT COVE Avenue 118 Subject | $365,000* List Price | 2 | 2 | 1,059 | $398 | - |
A 5122 E SHEA Boulevard 1062 Sold | $419,000 List Price | 2 | 2 | 1,086 | 0.2 mi | |
B 4850 E Desert Cove Avenue 333 Sold | $389,000 | 2 | 2 | 1,059 | $367 | 0.1 mi |
C 5335 E SHEA Boulevard 1056 Sold | $425,000 List Price | 2 | 2 | 1,076 | 0.6 mi | |
D 4925 E DESERT COVE Avenue 235 Active | $399,500 List Price | 2 | 2 | 1,059 | $377 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained, featuring significant recent mechanical upgrades including a newer HVAC system, electrical panel, and water heater. While the kitchen and bathrooms retain a more vintage aesthetic with white appliances and older cabinetry, the interior has been updated with modern wood-look flooring and recessed lighting. It meets the 'good' criteria as major systems are within their lifespan and no immediate renovations are required for occupancy.
Elementary School: Sequoya Elementary School (9/10).
The HOA permits short-term rentals, which is exceptionally rare in Scottsdale, making this property a high-value opportunity for investors seeking lucrative rental income.
The unit features a newer HVAC system, electrical panel, and water heater, significantly reducing the risk of immediate maintenance costs and providing long-term peace of mind.
Being an interior unit, the property may experience limited natural light and potential noise from neighbors on multiple sides compared to end-unit configurations.
Built in 1988, the property may require additional cosmetic updates to the kitchen and bathrooms to meet the modern aesthetic expectations of the competitive Scottsdale market.
GROUND LEVEL INTERIOR UNIT- this 2-bedroom gem in Village at Stone Creek is anything but ordinary! Wood-look floors set a stylish tone, while the inviting living room offers the perfect spot to relax or host friends. The kitchen shines with matching appliances, generous counter space, and built-in cabinetry that keeps everything within reach. The spacious main suite features a walk-in closet, private bath, and direct access to the covered patio ideal for morning coffee or evening unwinding. All just moments from popular dining, shopping, and everyday conveniences. Community pool, walking path along the golf course, and fitness clubhouse for residents! Newer HVAC, Electrical panel, Water Heater. Great lock & leave or investment opportunity. HOA allows STR-RARE in Scottsdale!
No exterior & parking available.
Grades K-5 • 1.8 mi
Grades 6-8 • 2.1 mi
Grades 9-12 • 2.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,059 | 1,273 | 21% |
| Lot Size | 1,135 | 1,135 | 50% |
| Price | $365.0K | $350.0K | 53% |
| Price per sq ft | $345 | $345 | 50% |
| Built year | 1988 | 1998 | 23% |
| HOA | $349 | $366 | 49% |
| Days on market | 57 | 2029 | 2% |
Feb 25, 2026
$365,000
Initial Listing