Residential Income Property with
New
For Sale
$269,500
1232 N 85TH Place, Scottsdale, AZ 85257
The remodeled condo includes two renovated bathrooms, in-unit laundry and community pool access.
Property Size936 SF
Days on Market3
Property Features for 1232 N 85TH Place
General Information
Standard status
Active
Size
936 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$605
Amenities
pool
heated spa
BBQ
in-unit laundry
Building Details
Building Size
936 SF
Year Built
1984
Listing Agency:
eXp Realty
Listed By:
Kimberly Mazinter · License #SA107895000
(602) 565-1136
Source:
Alexiabertsatos
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:25AM
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 eXp Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1984, this Scottsdale condo has an open floor plan, an updated kitchen and large bedrooms. Both bathrooms have been renovated; one includes a walk-in shower and the other a soaking tub. Flooring is identified as new for 2026. In-unit stackable laundry and a private one-car garage with additional storage complete the interior and parking features.
The HOA covers water, trash, sewer, the roof, exterior maintenance and grounds. Residents also have access to a community pool, heated spa and BBQ area. Apache Park is within walking distance, while ASU, Old Town, Fashion Square, Tempe Marketplace, Talking Stick and Loop 101/202 are described as minutes away. Sprouts at Papago Plaza and the SkySong district are also noted nearby.
The HOA covers water, trash, sewer, the roof, exterior maintenance and grounds. Residents also have access to a community pool, heated spa and BBQ area. Apache Park is within walking distance, while ASU, Old Town, Fashion Square, Tempe Marketplace, Talking Stick and Loop 101/202 are described as minutes away. Sprouts at Papago Plaza and the SkySong district are also noted nearby.
Key Highlights
- Remodeled condo with an open floor plan and updated kitchen
- Two renovated bathrooms: one with a walk‑in shower and one with a soaking tub
- Private 1‑car garage with extra storage; stackable laundry inside the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,830
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$216,600
$216.6K
Cap Rate 7%
$154,714
$154.7K
Cap Rate 9%
$120,333
$120.3K
Market Conditions
NOI Build-Up for 936 SF
Gross rent
$20.6K $21.96/SF
− Vacancy
−$863 −$0.92/SF
EGI
$19.7K $21.04/SF
− OpEx
−$8.9K −$9.47/SF
NOI
$10.8K $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 Rate 5%
$216,600
Cap Rate 7%
$154,714
Cap Rate 9%
$120,333
Alternative Uses
Best Use
Apartment 5plus
$154.7K
$135.4K – $180.5K
NOI $10,830 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$307.3K
$268.9K – $358.5K
NOI $21,508 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 85257, AZ
29,187
Population
16,392
Households
1.8
Avg Household Size
39
Median Age
46%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,230
Density / Sq Mi
$79,828
Median Household Income
$54,580
Median Earnings
$1,812
Median Rent
$453,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The remodeled condo includes two renovated bathrooms, in-unit laundry and community pool access.
Where is this residential income property located?
The property is located at 1232 N 85TH Place Scottsdale, AZ.
What is the asking price?
The asking price for this property is $269,500.
What are key features of this property?
This property features: Remodeled condo with an open floor plan and updated kitchen; Two renovated bathrooms: one with a walk‑in shower and one with a soaking tub; Private 1‑car garage with extra storage; stackable laundry inside the unit
