Top-Floor Residential Income
For Sale
$429,900
Pending
14000 N 94TH Street 3196, Scottsdale, AZ 85260
Two-bedroom condo with a den, mountain views, upgraded interiors, and access to gated community amenities.
Property Size1,154 SF
Days on Market15
Property Features for 14000 N 94TH Street 3196
General Information
Standard status
Pending
Size
1,154 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,298
Building Details
Building Size
1,154 SF
Year Built
2001
Listing Agency:
Berkshire Hathaway HomeServices Arizona Properties
(480) 330-6262
Listed By:
Holly Hoepfner
(480) 330-6262
Source:
Alexiabertsatos
Added: Aug 10
Changed: Aug 24
Last Checked: Aug 23 at 7:35AM
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 Berkshire Hathaway HomeServices Arizona Properties
Investment Insights
Based on property information with market context.
This top-floor condominium at Bella Vista includes two bedrooms, two bathrooms, and a den. The residence features high ceilings, large windows, a private balcony with a storage area and water spigot, and interior improvements completed over several years. The AC was replaced in 2019, the kitchen was remodeled in 2021, the primary bathroom was updated in 2024, and fresh paint with luxury vinyl flooring was added throughout in 2025. The unit also includes an assigned parking space across from the elevator in the secured underground garage.
Bella Vista is a gated community in Scottsdale with four pools, spas, a clubhouse, fitness center, shaded paths, and underground parking. A Scottsdale Trolley stop is located outside the community, providing access to Old Town shops, restaurants, and nightlife. The residence overlooks the McDowell Mountains and includes access to garage bike storage and a car washing station.
Bella Vista is a gated community in Scottsdale with four pools, spas, a clubhouse, fitness center, shaded paths, and underground parking. A Scottsdale Trolley stop is located outside the community, providing access to Old Town shops, restaurants, and nightlife. The residence overlooks the McDowell Mountains and includes access to garage bike storage and a car washing station.
Key Highlights
- Top‑floor 2 bed/2 bath condo with den and McDowell Mountains views
- AC replaced in 2019; kitchen remodeled in 2021; primary bathroom updated in 2024
- Fresh interior paint and luxury vinyl flooring completed throughout in 2025
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
$13,353
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
3.11%
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%
$267,060
$267.1K
Cap Rate 7%
$190,757
$190.8K
Cap Rate 9%
$148,367
$148.4K
Market Conditions
NOI Build-Up for 1,154 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
$25.3K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$24.3K $21.04/SF
− OpEx
−$10.9K −$9.47/SF
NOI
$13.4K $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%
$267,060
Cap Rate 7%
$190,757
Cap Rate 9%
$148,367
Alternative Uses
Best Use
Apartment 5plus
$190.8K
$166.9K – $222.6K
NOI $13,353 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$378.8K
$331.5K – $442.0K
NOI $26,518 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 85260, AZ
37,967
Population
21,072
Households
1.8
Avg Household Size
47
Median Age
59%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,674
Density / Sq Mi
$103,854
Median Household Income
$62,835
Median Earnings
$1,969
Median Rent
$637,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo with a den, mountain views, upgraded interiors, and access to gated community amenities.
Where is this residential income property located?
The property is located at 14000 N 94TH Street 3196 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Top‑floor 2 bed/2 bath condo with den and McDowell Mountains views; AC replaced in 2019; kitchen remodeled in 2021; primary bathroom updated in 2024; Fresh interior paint and luxury vinyl flooring completed throughout in 2025
