Residential Income Property with
For Sale
$699,000
19700 N 76th St #1119, Scottsdale, AZ 85255
Updated ground-floor condominium with an open layout, covered patio, and access to extensive community amenities.
Property Size1,729 SF
Price / SF$404.28
Days on Market33
Property Features for 19700 N 76th St #1119
General Information
Standard status
Active
Size
1,729 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
pool
hot tub
fitness center
walking paths
Building Details
Year Built
2003
Listing Agency:
1St Dream Realty
(602) 353-7034
Listed By:
House of AZ
(602) 353-7034
Source:
Houseofarizona
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 26 at 12:41PM
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 1St Dream Realty
Investment Insights
Based on property information with market context.
This updated ground-floor condominium at The Villages at Grayhawk provides 1,729 square feet with 2 bedrooms, 2 bathrooms, and a den. The interior includes hardwood floors, plantation shutters, a gas fireplace, and an open living arrangement. The kitchen has white cabinetry, quartz countertops, stainless steel appliances, a gas range, subway tile backsplash, and refreshed lighting and hardware. A covered patio faces the community’s desert landscaping, while the primary suite includes an en-suite bathroom with dual vanities, marble flooring, a walk-in shower, and a private water closet. The property also includes a large laundry room with added storage.
Built in 2003, the condominium is located at 19700 N 76th St #1119 in Scottsdale. Community amenities include three pools, two hot tubs, two fitness centers, walking paths, and landscaped green spaces. Grayhawk Golf Club, Scottsdale Quarter, Kierland Commons, TPC Scottsdale, Loop 101, dining, shopping, hiking, and entertainment are all identified as nearby destinations.
Built in 2003, the condominium is located at 19700 N 76th St #1119 in Scottsdale. Community amenities include three pools, two hot tubs, two fitness centers, walking paths, and landscaped green spaces. Grayhawk Golf Club, Scottsdale Quarter, Kierland Commons, TPC Scottsdale, Loop 101, dining, shopping, hiking, and entertainment are all identified as nearby destinations.
Key Highlights
- 1,729‑SF ground‑floor condominium with 2 bedrooms, 2 bathrooms, and a den
- Updated kitchen with quartz counters, stainless steel appliances, gas range, and subway tile backsplash
- Primary suite offers dual vanities, marble flooring, walk‑in shower, and private water 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
$20,006
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
2.86%
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%
$400,120
$400.1K
Cap Rate 7%
$285,800
$285.8K
Cap Rate 9%
$222,289
$222.3K
Market Conditions
NOI Build-Up for 1,729 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
$38.0K $21.96/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$36.4K $21.04/SF
− OpEx
−$16.4K −$9.47/SF
NOI
$20.0K $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%
$400,120
Cap Rate 7%
$285,800
Cap Rate 9%
$222,289
Alternative Uses
Best Use
Apartment 5plus
$285.8K
$250.1K – $333.4K
NOI $20,006 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$567.6K
$496.6K – $662.2K
NOI $39,731 @ 7.0% cap · market cap 5.68%
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
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 85255, AZ
44,976
Population
23,016
Households
2
Avg Household Size
51
Median Age
68%
College-Educated
98%
High-School Grad
88.2 sq mi
ZIP Area
510
Density / Sq Mi
$143,567
Median Household Income
$93,339
Median Earnings
$2,401
Median Rent
$975,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated ground-floor condominium with an open layout, covered patio, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 19700 N 76th St #1119 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,729‑SF ground‑floor condominium with 2 bedrooms, 2 bathrooms, and a den; Updated kitchen with quartz counters, stainless steel appliances, gas range, and subway tile backsplash; Primary suite offers dual vanities, marble flooring, walk‑in shower, and private water closet
