Interior Unit
For Sale
$424,900
15050 N THOMPSON PEAK Parkway 1035, Scottsdale, AZ 85260
Interior condo features a fireplace, tile flooring, and a kitchen with granite countertops and stainless steel appliances.
Property Size1,254 SF
Days on Market60
Property Features for 15050 N THOMPSON PEAK Parkway 1035
General Information
Standard status
Active
Size
1,254 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,157
Amenities
tennis court
pool
spa
Building Details
Building Size
1,254 SF
Year Built
1996
Listing Agency:
RE/MAX Fine Properties
Listed By:
Steven S. Padilla · License #SA115755000
(602) 696-8044
Source:
Jcluxuryresidential
Added: Jul 14
Changed: Sep 10
Last Checked: Sep 10 at 7:01AM
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 RE/MAX Fine Properties
Investment Insights
Based on property information with market context.
This interior unit condo offers bright, open living spaces designed for everyday comfort and entertaining. The living area includes a cozy fireplace, tile flooring, and soaring ceilings. The kitchen is equipped with stainless steel appliances, granite countertops, track lighting, and tile backsplash, along with plentiful cabinet space.
The primary bedroom provides a carpeted retreat and includes an attached bath with a step-in shower. Additional community amenities include a tennis court, pool, and spa.
Located within the Villages North community, this condo is presented for sale and is ready to be seen in person.
The primary bedroom provides a carpeted retreat and includes an attached bath with a step-in shower. Additional community amenities include a tennis court, pool, and spa.
Located within the Villages North community, this condo is presented for sale and is ready to be seen in person.
Key Highlights
- Interior condo built in 1996
- Living area features a cozy fireplace, tile flooring, and soaring ceilings
- Kitchen includes granite countertops, stainless steel appliances, and tile backsplash
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
$14,510
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
3.41%
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%
$290,200
$290.2K
Cap Rate 7%
$207,286
$207.3K
Cap Rate 9%
$161,222
$161.2K
Market Conditions
NOI Build-Up for 1,254 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%
$290,200
Cap Rate 7%
$207,286
Cap Rate 9%
$161,222
Alternative Uses
Best Use
Apartment 5plus
$207.3K
$181.4K – $241.8K
NOI $14,510 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$411.7K
$360.2K – $480.3K
NOI $28,816 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,030
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Interior condo features a fireplace, tile flooring, and a kitchen with granite countertops and stainless steel appliances.
Where is this residential income property located?
The property is located at 15050 N THOMPSON PEAK Parkway 1035 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Interior condo built in 1996; Living area features a cozy fireplace, tile flooring, and soaring ceilings; Kitchen includes granite countertops, stainless steel appliances, and tile backsplash
