Remodeled Residential Income
New
For Sale
$675,000
16420 N Thompson Peak Parkway #1043, Scottsdale, AZ 85260
Ground-level condo in a gated community with an updated kitchen, renovated bathrooms, and an attached garage.
Property Size1,659 SF
Price / SF$406.87
Days on Market1
Property Features for 16420 N Thompson Peak Parkway #1043
General Information
Standard status
Active
Size
1,659 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
patio
heated pool
spa
fitness center
tennis courts
parks
trails
Building Details
Year Built
2000
Listing Agency:
Homesmart
(602) 230-7600
Listed By:
Kirsten Goebeler
(480) 792-9500
Source:
85086realestate
Added: Oct 16
Last Checked: Oct 16 at 7:58AM
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
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Investment Insights
Based on property information with market context.
This ground-floor condo in Cachet at McDowell Mountain Ranch offers 1,659 square feet, with 3 bedrooms and 2 bathrooms. Built in 2000, the residence has a remodeled kitchen and bathrooms, an open layout, a patio, and an attached 2-car garage. The community is gated and includes a heated pool, spa, and fitness center.
McDowell Mountain Ranch amenities include additional pools, tennis courts, parks, and trails. Dining and shopping, as well as WestWorld and TPC Scottsdale, are nearby.
McDowell Mountain Ranch amenities include additional pools, tennis courts, parks, and trails. Dining and shopping, as well as WestWorld and TPC Scottsdale, are nearby.
Key Highlights
- 1,659‑square‑foot condo with 3 bedrooms and 2 bathrooms
- Ground‑level residence with an attached 2‑car garage and patio
- Remodeled kitchen and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,196
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,920
$383.9K
Cap Rate 7%
$274,229
$274.2K
Cap Rate 9%
$213,289
$213.3K
Market Conditions
NOI Build-Up for 1,659 SF
Gross rent
$36.4K $21.96/SF
− Vacancy
−$1.5K −$0.92/SF
EGI
$34.9K $21.04/SF
− OpEx
−$15.7K −$9.47/SF
NOI
$19.2K $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 Rate 5%
$383,920
Cap Rate 7%
$274,229
Cap Rate 9%
$213,289
Alternative Uses
Best Use
Apartment 5plus
$274.2K
$240.0K – $319.9K
NOI $19,196 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$544.6K
$476.5K – $635.4K
NOI $38,122 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
517
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level condo in a gated community with an updated kitchen, renovated bathrooms, and an attached garage.
Where is this residential income property located?
The property is located at 16420 N Thompson Peak Parkway #1043 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1,659‑square‑foot condo with 3 bedrooms and 2 bathrooms; Ground‑level residence with an attached 2‑car garage and patio; Remodeled kitchen and bathrooms
