Two-Bedroom Residential Income
For Sale
$399,999
9735 N 94th Place #209, Scottsdale, AZ 85258
Second-floor condominium with an open layout, updated kitchen, covered balcony, and access to extensive community amenities.
Property Size1,253 SF
Price / SF$319.23
Days on Market10
Property Features for 9735 N 94th Place #209
General Information
Standard status
Active
Size
1,253 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,395
Amenities
pool
heated spa
tennis courts
walking paths
Building Details
Building Size
1,253 SF
Year Built
1993
Stories
2
Listing Agency:
HAZ Realty, LLC
(602) 451-2376
Listed By:
Barbara Abdin
(602) 451-2376
Source:
Aznewhorizonrealty
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 12 at 1:41PM
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 HAZ Realty, LLC
Investment Insights
Based on property information with market context.
This second-floor condominium offers 1,253 square feet with two bedrooms, two baths, and a split-bedroom layout. The main living area centers on a fireplace and connects with two dining spaces and an updated kitchen equipped with granite countertops, stainless-steel appliances, wood cabinetry, tile backsplash, pantry, and breakfast bar. The primary bedroom has a private bath, while vaulted ceilings, ceiling fans, in-unit laundry, and balcony storage add practical functionality. A covered balcony and assigned covered carport are also included.
Built in 1993, the property is part of a community with a pool, heated spa, tennis courts, and walking paths. The address provides access to Loop 101 and is convenient to Scottsdale Ranch Park, shopping, dining, and golf.
Built in 1993, the property is part of a community with a pool, heated spa, tennis courts, and walking paths. The address provides access to Loop 101 and is convenient to Scottsdale Ranch Park, shopping, dining, and golf.
Key Highlights
- 1,253 SF second‑floor condominium with two bedrooms and two baths
- Split‑bedroom floor plan with fireplace, vaulted ceilings, and two dining areas
- Updated kitchen with granite counters, stainless‑steel appliances, pantry, and breakfast bar
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
$14,498
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
3.62%
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%
$289,960
$290.0K
Cap Rate 7%
$207,114
$207.1K
Cap Rate 9%
$161,089
$161.1K
Market Conditions
NOI Build-Up for 1,253 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
$27.5K $21.96/SF
− Vacancy
−$1.2K −$0.92/SF
EGI
$26.4K $21.04/SF
− OpEx
−$11.9K −$9.47/SF
NOI
$14.5K $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%
$289,960
Cap Rate 7%
$207,114
Cap Rate 9%
$161,089
Alternative Uses
Best Use
Apartment 5plus
$207.1K
$181.2K – $241.6K
NOI $14,498 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$411.3K
$359.9K – $479.9K
NOI $28,793 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 85258, AZ
25,203
Population
15,566
Households
1.6
Avg Household Size
55
Median Age
63%
College-Educated
99%
High-School Grad
10.3 sq mi
ZIP Area
2,447
Density / Sq Mi
$105,171
Median Household Income
$68,184
Median Earnings
$1,945
Median Rent
$744,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with an open layout, updated kitchen, covered balcony, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 9735 N 94th Place #209 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 1,253 SF second‑floor condominium with two bedrooms and two baths; Split‑bedroom floor plan with fireplace, vaulted ceilings, and two dining areas; Updated kitchen with granite counters, stainless‑steel appliances, pantry, and breakfast bar
