Updated End-Unit Residential Income
For Sale
$524,900
11500 E COCHISE Drive 2085, Scottsdale, AZ 85259
Three-bedroom condominium with a split-bedroom layout, attached garage, and private mountain-view balcony.
Property Size1,564 SF
Days on Market15
Property Features for 11500 E COCHISE Drive 2085
General Information
Standard status
Active
Size
1,564 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,602
Amenities
gas fireplace
surround sound speakers
pool
spa
fitness center
clubhouse
billiards
gathering and meeting spaces
dining and entertaining areas
scenic walking paths
community barbecue and seating areas
Building Details
Building Size
1,564 SF
Year Built
2001
Listing Agency:
West USA Realty
(602) 525-6410
Listed By:
Angela R Wipperfurth
(602) 525-6410
Source:
Jcluxuryresidential
Added: Aug 8
Changed: Aug 19
Last Checked: Aug 21 at 11:14AM
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 West USA Realty
Investment Insights
Based on property information with market context.
This updated end-unit condominium at Mirage Crossing offers 3 bedrooms, 2 bathrooms, and an attached one-car garage. The split-bedroom arrangement separates the primary suite from two secondary bedrooms. Interior features include an open great room with a gas fireplace, remodeled kitchen with granite countertops, contemporary cabinetry, stainless steel appliances, and a peninsula breakfast bar. The primary bathroom includes a step-in shower, double vanity, walk-in closet, and linen storage. Wood-look laminate flooring, modern lighting, neutral paint, a dedicated laundry room, and living room surround sound speakers complete the interior. The garage provides direct home access along with built-in cabinets and overhead storage.
A south-facing private balcony captures mountain views. The home is located within the gated Mirage Crossing community, where residents have access to a heated lagoon-style pool and spa, fitness center, clubhouse, walking paths, barbecue areas, and outdoor seating. A new air conditioning system was installed in May 2026 and includes a transferable warranty. The property was built in 2001.
A south-facing private balcony captures mountain views. The home is located within the gated Mirage Crossing community, where residents have access to a heated lagoon-style pool and spa, fitness center, clubhouse, walking paths, barbecue areas, and outdoor seating. A new air conditioning system was installed in May 2026 and includes a transferable warranty. The property was built in 2001.
Key Highlights
- Updated end‑unit condominium with 3 bedrooms and 2 bathrooms
- Remodeled kitchen with granite counters, stainless appliances, and peninsula breakfast bar
- Primary suite includes renovated bathroom, step‑in shower, double vanity, and walk‑in closet
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
$18,097
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
3.45%
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%
$361,940
$361.9K
Cap Rate 7%
$258,529
$258.5K
Cap Rate 9%
$201,078
$201.1K
Market Conditions
NOI Build-Up for 1,564 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
$34.3K $21.96/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$32.9K $21.04/SF
− OpEx
−$14.8K −$9.47/SF
NOI
$18.1K $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%
$361,940
Cap Rate 7%
$258,529
Cap Rate 9%
$201,078
Alternative Uses
Best Use
Apartment 5plus
$258.5K
$226.2K – $301.6K
NOI $18,097 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$513.4K
$449.2K – $599.0K
NOI $35,939 @ 7.0% cap · market cap 6.85%
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
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 85259, AZ
22,548
Population
10,864
Households
2.1
Avg Household Size
51
Median Age
69%
College-Educated
99%
High-School Grad
20.7 sq mi
ZIP Area
1,089
Density / Sq Mi
$145,574
Median Household Income
$80,502
Median Earnings
$1,769
Median Rent
$956,300
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 - Three-bedroom condominium with a split-bedroom layout, attached garage, and private mountain-view balcony.
Where is this residential income property located?
The property is located at 11500 E COCHISE Drive 2085 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Updated end‑unit condominium with 3 bedrooms and 2 bathrooms; Remodeled kitchen with granite counters, stainless appliances, and peninsula breakfast bar; Primary suite includes renovated bathroom, step‑in shower, double vanity, and walk‑in closet
