Short-Term Rental Property with
For Sale
$445,000
15095 N THOMPSON PEAK Parkway 1118, Scottsdale, AZ 85260
Ground-level end unit with remodeled interiors, patio mountain views, and access to extensive community amenities.
Property Size1,147 SF
Days on Market148
Property Features for 15095 N THOMPSON PEAK Parkway 1118
General Information
Standard status
Active
Size
1,147 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,146
Amenities
fireplace
clubhouse
pool
spa
BBQ area
firepit
fitness center
sauna
steam room
Building Details
Building Size
1,147 SF
Year Built
1995
Listing Agency:
Realty ONE Group
Listed By:
Keith Walker
(602) 561-9251
Source:
Jcluxuryresidential
Added: Apr 9
Changed: Aug 29
Last Checked: Sep 2 at 12:44AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This ground-floor end unit at 15095 N Thompson Peak Parkway in Scottsdale offers two bedrooms and two fully remodeled baths. The interior uses an open layout centered on a great room with a fireplace, while both bedrooms provide walk-in closets. Flooring throughout is carpet-free, and a new HVAC system was installed in August 2024. The property was built in 1995.
Community amenities include a clubhouse, pool, spa, BBQ area, firepit, fitness center, sauna, and steam room. The patio captures mountain views. Short-term rentals are permitted without restrictions, adding flexibility for an income-producing residential strategy.
Community amenities include a clubhouse, pool, spa, BBQ area, firepit, fitness center, sauna, and steam room. The patio captures mountain views. Short-term rentals are permitted without restrictions, adding flexibility for an income-producing residential strategy.
Key Highlights
- Short‑term rentals permitted without restrictions
- Ground‑floor end unit with 2 bedrooms and 2 fully remodeled baths
- New HVAC installed in August 2024
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Ground-level end unit with remodeled interiors, patio mountain views, and access to extensive community amenities.
Where is this short term rental property located?
The property is located at 15095 N THOMPSON PEAK Parkway 1118 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: Short‑term rentals permitted without restrictions; Ground‑floor end unit with 2 bedrooms and 2 fully remodeled baths; New HVAC installed in August 2024
