Updated Residential Income
For Sale
$445,000
15095 N Thompson Peak Parkway #1061, Scottsdale, AZ 85260
First-floor end-unit condo with renovated bathrooms, upgraded mechanical systems, and access to extensive community amenities.
Property Size1,147 SF
Price / SF$387.97
Days on Market11
Property Features for 15095 N Thompson Peak Parkway #1061
General Information
Standard status
Active
Size
1,147 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
heated pools
built-in barbecue grills
community fire pit
clubhouse
fitness center
Building Details
Year Built
1995
Listing Agency:
Red Fox Real Estate
(520) 431-8828
Listed By:
Tucker and Oleg
(602) 688-2836
Source:
Kennethjamesrealty
Added: Sep 1
Changed: Sep 10
Last Checked: Sep 10 at 5:55AM
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 Red Fox Real Estate
Investment Insights
Based on property information with market context.
This first-floor end-unit condo provides stair-free access and abundant natural light. The residence includes an updated kitchen with a refrigerator and garbage disposal installed in late 2025, along with two renovated bathrooms. A day/night HVAC system and high-efficiency water heater, both replaced in 2021, add to the property’s updated mechanical profile.
Located at 15095 N Thompson Peak Parkway in Scottsdale’s Cactus Corridor, the community offers two heated pools, built-in barbecue grills, a fire pit, clubhouse, and fitness center. The HOA handles exterior maintenance. Built in 1995, the condominium can serve as a personal residence or investment property.
Located at 15095 N Thompson Peak Parkway in Scottsdale’s Cactus Corridor, the community offers two heated pools, built-in barbecue grills, a fire pit, clubhouse, and fitness center. The HOA handles exterior maintenance. Built in 1995, the condominium can serve as a personal residence or investment property.
Key Highlights
- First‑floor end unit with stair‑free access and abundant natural light
- Two completely renovated bathrooms
- Kitchen refrigerator and garbage disposal installed in late 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
$13,272
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
2.98%
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%
$265,440
$265.4K
Cap Rate 7%
$189,600
$189.6K
Cap Rate 9%
$147,467
$147.5K
Market Conditions
NOI Build-Up for 1,147 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
$25.2K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$24.1K $21.04/SF
− OpEx
−$10.9K −$9.47/SF
NOI
$13.3K $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%
$265,440
Cap Rate 7%
$189,600
Cap Rate 9%
$147,467
Alternative Uses
Best Use
Apartment 5plus
$189.6K
$165.9K – $221.2K
NOI $13,272 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$376.5K
$329.5K – $439.3K
NOI $26,357 @ 7.0% cap · market cap 5.92%
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
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,019
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 - First-floor end-unit condo with renovated bathrooms, upgraded mechanical systems, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 15095 N Thompson Peak Parkway #1061 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: First‑floor end unit with stair‑free access and abundant natural light; Two completely renovated bathrooms; Kitchen refrigerator and garbage disposal installed in late 2025
