8349 E COLUMBUS Avenue, Scottsdale, AZ 85251, Scottsdale, 85251 - 5 bed, 3 bath
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Scottsdale, AZ 85251
This Gut-Renovated Old Town Residence is a Strong Value Opportunity, listed at $899,000—positioned well below the $981,979 Fair Market Value by 8%. This valuation gap provides $82,979 in Instant Equity. Boasting a Condition Rating of 2, the home features a bespoke white oak kitchen with a Sub-Zero refrigerator, new plumbing, and updated electrical. With a proven 8.7% residential cap rate and $80,000 annual income, it perfectly balances luxury lifestyle with elite financial performance. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield, turnkey asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8349 E COLUMBUS Avenue Subject | $899,000* List Price | 5 | 3 | 2,487 | $395 | - |
A 3526 N 85TH Street Sold | $845,000 | 4 | 2 | 1,830 | $462 | 0.2 mi |
B 8213 E FAIRMOUNT Avenue Sold | $865,000 | 4 | 2 | 2,059 | $420 | 0.3 mi |
C 8124 E Mitchell Drive Sold | $649,997 | 3 | 2 | 1,536 | $423 | 0.3 mi |
D 3809 N 85th Place Sold | $643,000 List Price | 4 | 2 | 1,830 | 0.3 mi | |
E 8737 E FAIRMOUNT Avenue Sold | $890,000 | 4 | 2 | 1,980 | $449 | 0.5 mi |
F 8247 E Devonshire Avenue Active | $1,149,000 List Price | 5 | 3 | 2,725 | $422 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone a comprehensive gut renovation, effectively bringing the 1958 structure to modern standards. Key upgrades include the replacement of all sewer lines under the foundation, as well as new electrical and plumbing systems. The interior features high-end finishes such as a custom white oak kitchen with a Sub-Zero refrigerator, quartzite countertops, designer tile work in the bathrooms, and new vinyl wood flooring throughout. The property is in like-new condition with no deferred maintenance.
The property boasts an impressive 8.7% residential cap rate with a proven $80,000 annual income, making it an exceptional turnkey opportunity for seasoned investors.
Beyond cosmetic finishes, the home underwent a gut renovation including new sewer lines under the foundation, updated electrical, and new plumbing, significantly reducing future maintenance risks.
Situated on a quiet cul-de-sac in the heart of Old Town Scottsdale with no HOA, the property offers the perfect balance of privacy and proximity to world-class dining and entertainment.
The sale includes tenants in place, which may deter traditional owner-occupant buyers who require immediate possession or want to customize the home for personal use.
With a 5-bedroom layout spanning nearly 2,500 square feet, the 6,963 square foot lot is relatively compact, potentially limiting outdoor recreational space compared to other homes in the area.
For sale with tenants in place. $80,000 income past two years. Long term tenants. 8.7% residential cap rate past two years! Gut renovated 5bed 3 full bath. All sewer lines under foundation have been replaced. Customer white oak kitchen, sub zero fridge. All electric and plumbing has been new and updated. Cosmetic finishes include all new tile work, quartzite, countertops, vanities, vinyl wood flooring, interior and exterior doors etc. Bespoke effortless floorplan features Double Master bedrooms. Heart of Old Town, on a quiet cul de sac.. No HOA. Spectacular Home, Don't miss out!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 90% |
| Baths | 3.0 | 2.0 | 63% |
| Square foot | 2,487 | 1,876 | 88% |
| Lot Size | 6,963 | 7,529 | 31% |
| Price | $899.0K | $649.6K | 73% |
| Price per sq ft | $361 | $365 | 48% |
| Built year | 1958 | 1960 | 31% |
| HOA | $0 | $0 | 50% |
| Days on market | 90 | 2106 | 2% |
Mar 9, 2026
$899,000
Initial Listing