Residential Income Property with
For Sale
$450,000
11500 E COCHISE Drive 2038, Scottsdale, AZ 85259
Two-bedroom condominium with a den, covered balcony, fireplace, and access to community fitness and recreation amenities.
Property Size1,492 SF
Days on Market9
Property Features for 11500 E COCHISE Drive 2038
General Information
Standard status
Active
Size
1,492 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
gas fireplace
private covered balcony
pool
hot tub
fitness center
clubhouse
Building Details
Building Size
1,492 SF
Year Built
2000
Listing Agency:
RE/MAX Excalibur
Listed By:
Lori A Duncan
(480) 331-9850
Source:
Alexiabertsatos
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 16 at 11:00PM
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 RE/MAX Excalibur
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath condominium includes a den, an open living and dining arrangement, and a gas fireplace. The kitchen is equipped with stainless steel appliances, a breakfast bar, cabinetry, and ample counter space. A covered balcony faces a greenbelt, while the primary suite provides an ensuite bathroom with dual sinks and a walk-in closet. The property also includes a private 1-car garage and an additional assigned parking space.
Community features include a pool, hot tub, fitness center, clubhouse, and maintained grounds. Built in 2000, the residence is located at 11500 E COCHISE Drive in Scottsdale, Arizona.
Community features include a pool, hot tub, fitness center, clubhouse, and maintained grounds. Built in 2000, the residence is located at 11500 E COCHISE Drive in Scottsdale, Arizona.
Key Highlights
- 2‑bedroom, 2‑bath condominium with a versatile den
- Private 1‑car garage plus an additional assigned parking space
- Covered balcony overlooking a greenbelt
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
$17,264
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
3.84%
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%
$345,280
$345.3K
Cap Rate 7%
$246,629
$246.6K
Cap Rate 9%
$191,822
$191.8K
Market Conditions
NOI Build-Up for 1,492 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
$32.8K $21.96/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$31.4K $21.04/SF
− OpEx
−$14.1K −$9.47/SF
NOI
$17.3K $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%
$345,280
Cap Rate 7%
$246,629
Cap Rate 9%
$191,822
Alternative Uses
Best Use
Apartment 5plus
$246.6K
$215.8K – $287.7K
NOI $17,264 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$489.8K
$428.6K – $571.4K
NOI $34,285 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with a den, covered balcony, fireplace, and access to community fitness and recreation amenities.
Where is this residential income property located?
The property is located at 11500 E COCHISE Drive 2038 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with a versatile den; Private 1‑car garage plus an additional assigned parking space; Covered balcony overlooking a greenbelt
