Two-Bedroom Residential Income
For Sale
$365,000
11011 N 92ND Street 2144, Scottsdale, AZ 85260
Second-floor unit in a gated community with updated appliances, in-unit laundry, and access to shared recreational amenities.
Property Size1,117 SF
Days on Market57
Property Features for 11011 N 92ND Street 2144
General Information
Standard status
Active
Size
1,117 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,227
Amenities
community pool
exercise area
gated community
fireplace
walk-out balcony
Building Details
Building Size
1,117 SF
Year Built
1987
Listing Agency:
Fathom Realty Elite
(602) 616-4289
Listed By:
Sherri Cummings
(602) 616-4289
Source:
Jcluxuryresidential
Added: Jun 28
Changed: Aug 17
Last Checked: Aug 23 at 8:15AM
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 Fathom Realty Elite
Investment Insights
Based on property information with market context.
This second-floor residential income property offers two bedrooms and two baths within a gated community. The main living area includes a fireplace and opens to a walk-out balcony, while the primary bedroom also has balcony access, a walk-in closet, and a separate exit. The kitchen features newer stainless steel appliances, and a newer washer and dryer are included with the unit.
Community amenities include a pool and exercise area located steps from the residence. The property is near US 101, restaurants, shopping, and parks. Built in 1987, the unit combines a two-bedroom layout with in-unit appliances and outdoor living space.
Community amenities include a pool and exercise area located steps from the residence. The property is near US 101, restaurants, shopping, and parks. Built in 1987, the unit combines a two-bedroom layout with in-unit appliances and outdoor living space.
Key Highlights
- Two‑bedroom, two‑bath second‑floor unit
- Newer kitchen with stainless steel appliances
- Newer washer and dryer included
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
$12,924
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
3.54%
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%
$258,480
$258.5K
Cap Rate 7%
$184,629
$184.6K
Cap Rate 9%
$143,600
$143.6K
Market Conditions
NOI Build-Up for 1,117 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
$24.5K $21.96/SF
− Vacancy
−$1.0K −$0.92/SF
EGI
$23.5K $21.04/SF
− OpEx
−$10.6K −$9.47/SF
NOI
$12.9K $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%
$258,480
Cap Rate 7%
$184,629
Cap Rate 9%
$143,600
Alternative Uses
Best Use
Apartment 5plus
$184.6K
$161.6K – $215.4K
NOI $12,924 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$366.7K
$320.9K – $427.8K
NOI $25,668 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor unit in a gated community with updated appliances, in-unit laundry, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 11011 N 92ND Street 2144 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath second‑floor unit; Newer kitchen with stainless steel appliances; Newer washer and dryer included
