Top-Floor Residential Income
For Sale
$369,000
14000 N 94TH Street 3189, Scottsdale, AZ 85260
Top-floor condo with two bedrooms, a dedicated office/den, covered balcony, and access to community pool and walking paths.
Property Size1,154 SF
Days on Market124
Property Features for 14000 N 94TH Street 3189
General Information
Standard status
Active
Size
1,154 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR+Den
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,331
Amenities
pool
walking paths
Building Details
Building Size
1,154 SF
Year Built
2002
Listing Agency:
eXp Realty
(480) 233-9745
Listed By:
Jenna Shea
(480) 233-9745
Source:
Jcluxuryresidential
Added: Apr 22
Changed: Aug 17
Last Checked: Aug 23 at 9:18AM
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
Investment Insights
Based on property information with market context.
This top-floor condominium in Bella Vista offers a two-bedroom layout with a dedicated office/den, creating additional space for work, guests, exercise, or everyday use. The interior includes open living and dining areas, a kitchen with ample cabinetry and counter space, and a primary suite with an ensuite bath. A private covered balcony extends the living area and overlooks the surrounding neighborhood.
Community features include a pool, walking paths, and maintained grounds. The property is located in Scottsdale, AZ 85260, with shopping, dining, golf, parks, freeway access, and the McDowell Mountains identified as nearby area amenities. Built in 2002, the condominium is positioned for residential use within a community setting.
Community features include a pool, walking paths, and maintained grounds. The property is located in Scottsdale, AZ 85260, with shopping, dining, golf, parks, freeway access, and the McDowell Mountains identified as nearby area amenities. Built in 2002, the condominium is positioned for residential use within a community setting.
Key Highlights
- Top‑floor condominium in Bella Vista
- Two bedrooms plus a dedicated office/den
- Private covered balcony with neighborhood views
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
3.62%
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%
$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 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$378.8K
$331.5K – $442.0K
NOI $26,518 @ 7.0% cap · market cap 7.19%
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
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 - Top-floor condo with two bedrooms, a dedicated office/den, covered balcony, and access to community pool and walking paths.
Where is this residential income property located?
The property is located at 14000 N 94TH Street 3189 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Top‑floor condominium in Bella Vista; Two bedrooms plus a dedicated office/den; Private covered balcony with neighborhood views
