Gated Community Short-Term Rental
For Sale
$400,000
11011 N 92ND Street 1157, Scottsdale, AZ 85260
Two-bedroom townhome with furnished living spaces and access to pool, spa, clubhouse, and fitness amenities.
Property Size1,143 SF
Days on Market143
Property Features for 11011 N 92ND Street 1157
General Information
Standard status
Active
Size
1,143 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,208
Amenities
fireplace
wood-look tile flooring
high ceilings
walk-in closet
private patio
shaker cabinets
granite countertops
stainless steel appliances
clubhouse
heated pool and spa
workout facility
Building Details
Building Size
1,143 SF
Year Built
1985
Listing Agency:
EveryPlace
(623) 256-6510
Listed By:
George Laughton · License #SA579470000
(623) 256-6510
Source:
Jcluxuryresidential
Added: Mar 31
Changed: Aug 17
Last Checked: Aug 20 at 11:45AM
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 EveryPlace
Investment Insights
Based on property information with market context.
This 2-bed, 2-bath townhome in Scottsdale offers an open living area with high ceilings, wood-look tile flooring, and a fireplace. The kitchen includes shaker-style cabinetry, granite countertops, and stainless-steel appliances. The primary suite features a walk-in closet, full ensuite bath, and direct access to a private patio.
The home is within a gated community with a clubhouse, heated pool, spa, and workout facility. Built in 1985, the property is currently operated as an Airbnb and has also been positioned for residential use.
The home is within a gated community with a clubhouse, heated pool, spa, and workout facility. Built in 1985, the property is currently operated as an Airbnb and has also been positioned for residential use.
Key Highlights
- 2‑bed, 2‑bath townhome in a gated Scottsdale community
- Currently operated as an Airbnb
- Open living area with high ceilings, fireplace, and wood‑look tile flooring
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
$13,225
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
3.31%
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%
$264,500
$264.5K
Cap Rate 7%
$188,929
$188.9K
Cap Rate 9%
$146,944
$146.9K
Market Conditions
NOI Build-Up for 1,143 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
$25.1K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$24.0K $21.04/SF
− OpEx
−$10.8K −$9.47/SF
NOI
$13.2K $11.57/SF
Area
Scottsdale, AZ
Vacancy
4.20%
Lease Rate
$21.96 /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%
$264,500
Cap Rate 7%
$188,929
Cap Rate 9%
$146,944
Alternative Uses
Best Use
Apartment 5plus
$188.9K
$165.3K – $220.4K
NOI $13,225 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$375.2K
$328.3K – $437.8K
NOI $26,265 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,545
Businesses Nearby
Explore this area
Business Placement
Demographics for 85260, AZ
37,967
Population
21,072
Households
1.8
Avg Household Size
47
Median Age
59%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,674
Density / Sq Mi
$103,854
Median Household Income
$62,835
Median Earnings
$1,969
Median Rent
$637,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Two-bedroom townhome with furnished living spaces and access to pool, spa, clubhouse, and fitness amenities.
Where is this short term rental property located?
The property is located at 11011 N 92ND Street 1157 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2‑bed, 2‑bath townhome in a gated Scottsdale community; Currently operated as an Airbnb; Open living area with high ceilings, fireplace, and wood‑look tile flooring
