Ground-Floor Residential Income
For Sale
$349,000
10301 N 70TH Street 117, Paradise Valley, AZ 85253
Two-bedroom condominium with private outdoor areas, covered parking, and access to a community pool.
Property Size961 SF
Days on Market9
Property Features for 10301 N 70TH Street 117
General Information
Standard status
Active
Size
961 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$729
Amenities
community pool
landscaped community courtyard
Building Details
Building Size
961 SF
Year Built
1986
Listing Agency:
Russ Lyon Sotheby's International Realty
(602) 809-9242
Listed By:
Sue B Shapiro
(602) 809-9242
Source:
Alexiabertsatos
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 21 at 11:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Russ Lyon Sotheby's International Realty
Investment Insights
Based on property information with market context.
This ground-level condominium at Joshua Tree Condominiums includes two bedrooms and two bathrooms arranged in a split floor plan. The kitchen provides a pantry or storage room, while two private patios extend the living area, including one oriented toward the landscaped community courtyard. A covered parking space and community pool add convenience to the property. Built in 1986, the condominium is located at 10301 N 70TH Street in Paradise Valley, with shopping, dining, and golf courses identified nearby in the surrounding Paradise Valley and Scottsdale area.
Key Highlights
- Ground‑floor condominium with 2 bedrooms and 2 bathrooms
- Two private patios, including one facing the landscaped community courtyard
- Split‑bedroom floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,846
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$216,920
$216.9K
Cap Rate 7%
$154,943
$154.9K
Cap Rate 9%
$120,511
$120.5K
Market Conditions
NOI Build-Up for 961 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.8K $21.60/SF
− Vacancy
−$1.0K −$1.08/SF
EGI
$19.7K $20.52/SF
− OpEx
−$8.9K −$9.23/SF
NOI
$10.8K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$216,920
Cap Rate 7%
$154,943
Cap Rate 9%
$120,511
Alternative Uses
Best Use
Apartment 5plus
$154.9K
$135.6K – $180.8K
NOI $10,846 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.3K
$260.1K – $346.8K
NOI $20,808 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 85253, AZ
17,358
Population
8,815
Households
2
Avg Household Size
53
Median Age
71%
College-Educated
98%
High-School Grad
18.1 sq mi
ZIP Area
959
Density / Sq Mi
$182,150
Median Household Income
$79,848
Median Earnings
$1,935
Median Rent
$2,000,001
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with private outdoor areas, covered parking, and access to a community pool.
Where is this residential income property located?
The property is located at 10301 N 70TH Street 117 Paradise Valley, AZ.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Ground‑floor condominium with 2 bedrooms and 2 bathrooms; Two private patios, including one facing the landscaped community courtyard; Split‑bedroom floor plan
