Second-Floor Residential Income
For Sale
$310,000
15095 N Thompson Peak Parkway #2015, Scottsdale, AZ 85260
Two-bedroom condo with community pools, fitness facilities, and short-term rental eligibility subject to HOA requirements.
Property Size924 SF
Price / SF$335.50
Days on Market43
Property Features for 15095 N Thompson Peak Parkway #2015
General Information
Standard status
Active
Size
924 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$761
Amenities
two resort-style swimming pools and spas
fitness center
clubhouse
green spaces
Building Details
Building Size
924 SF
Year Built
1995
Stories
2
Listing Agency:
HomeSmart
(602) 476-4437
Listed By:
Sergio Norzagaray
(602) 476-4437
Source:
Aznewhorizonrealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 5:47PM
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 HomeSmart
Investment Insights
Based on property information with market context.
This second-floor condominium at 15095 N Thompson Peak Parkway #2015 includes 2 bedrooms, 1 bathroom, a functional floor plan, granite kitchen countertops, and views. Built in 1995, the residence is located within Signature Scottsdale, a community with two swimming pools, spas, a fitness center, clubhouse, and maintained green spaces.
The property is in Scottsdale near Loop 101, WestWorld of Scottsdale, TPC Scottsdale, Barrett-Jackson, the WM Phoenix Open, AJ's Fine Foods, shopping, dining, and entertainment. Short-term rentals are permitted subject to HOA requirements, providing flexibility for an investment property, seasonal use, or primary residence.
The property is in Scottsdale near Loop 101, WestWorld of Scottsdale, TPC Scottsdale, Barrett-Jackson, the WM Phoenix Open, AJ's Fine Foods, shopping, dining, and entertainment. Short-term rentals are permitted subject to HOA requirements, providing flexibility for an investment property, seasonal use, or primary residence.
Key Highlights
- 2‑bedroom, 1‑bath second‑floor condominium
- Granite kitchen countertops and functional floor plan
- Two swimming pools and spas within Signature Scottsdale
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
$10,691
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
3.45%
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%
$213,820
$213.8K
Cap Rate 7%
$152,729
$152.7K
Cap Rate 9%
$118,789
$118.8K
Market Conditions
NOI Build-Up for 924 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
$20.3K $21.96/SF
− Vacancy
−$852 −$0.92/SF
EGI
$19.4K $21.04/SF
− OpEx
−$8.7K −$9.47/SF
NOI
$10.7K $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%
$213,820
Cap Rate 7%
$152,729
Cap Rate 9%
$118,789
Alternative Uses
Best Use
Apartment 5plus
$152.7K
$133.6K – $178.2K
NOI $10,691 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$303.3K
$265.4K – $353.9K
NOI $21,233 @ 7.0% cap · market cap 6.85%
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
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?
Residential income property - Two-bedroom condo with community pools, fitness facilities, and short-term rental eligibility subject to HOA requirements.
Where is this residential income property located?
The property is located at 15095 N Thompson Peak Parkway #2015 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath second‑floor condominium; Granite kitchen countertops and functional floor plan; Two swimming pools and spas within Signature Scottsdale
