Ground-Floor Residential Income
For Sale
$699,000
19700 N 76TH Street 1119, Scottsdale, AZ 85255
Updated condominium with a flexible den, covered patio, and access to extensive community amenities.
Property Size1,729 SF
Price / SF$404.28
Days on Market47
Property Features for 19700 N 76TH Street 1119
General Information
Standard status
Active
Size
1,729 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA + den
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,317
Amenities
pool
hot tub
fitness center
walking paths
green spaces
gas fireplace
covered patio
hardwood flooring
plantation shutters
updated kitchen
stainless steel appliances
quartz countertops
subway tile backsplash
dual vanities
marble flooring
walk-in shower
laundry room
Building Details
Building Size
1,729 SF
Year Built
2003
Listing Agency:
eXp Realty
Listed By:
Brianna Moore
(602) 410-2281
Source:
Luxuryhomesdesertmountain
Added: Jul 27
Changed: Aug 18
Last Checked: Sep 10 at 5:36AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This ground-floor condominium in The Villages at Grayhawk provides 1729 square feet with two bedrooms, two bathrooms, and a den. Interior improvements include hardwood flooring, plantation shutters, a gas fireplace, and an updated kitchen with white cabinetry, quartz countertops, stainless steel appliances, a gas range, subway tile backsplash, and updated lighting and hardware. The primary suite includes an en-suite bathroom with dual vanities, marble flooring, a walk-in shower, and a private water closet. A covered patio overlooks community desert landscaping, while the laundry room adds storage.
Built in 2003, the property is located at 19700 N 76TH Street 1119 in Scottsdale, Arizona. Community amenities include three pools, two hot tubs, two fitness centers, walking paths, and green spaces. The home is also minutes from Grayhawk Golf Club, Scottsdale Quarter, Kierland Commons, TPC Scottsdale, Loop 101, dining, shopping, hiking, and entertainment.
Built in 2003, the property is located at 19700 N 76TH Street 1119 in Scottsdale, Arizona. Community amenities include three pools, two hot tubs, two fitness centers, walking paths, and green spaces. The home is also minutes from Grayhawk Golf Club, Scottsdale Quarter, Kierland Commons, TPC Scottsdale, Loop 101, dining, shopping, hiking, and entertainment.
Key Highlights
- 1729‑square‑foot ground‑floor condominium with two bedrooms, two bathrooms, and a den
- Updated kitchen with quartz countertops, stainless steel appliances, gas range, and subway tile backsplash
- Primary suite includes dual vanities, marble flooring, walk‑in shower, and private water closet
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
$20,006
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
2.86%
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%
$400,120
$400.1K
Cap Rate 7%
$285,800
$285.8K
Cap Rate 9%
$222,289
$222.3K
Market Conditions
NOI Build-Up for 1,729 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
$38.0K $21.96/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$36.4K $21.04/SF
− OpEx
−$16.4K −$9.47/SF
NOI
$20.0K $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%
$400,120
Cap Rate 7%
$285,800
Cap Rate 9%
$222,289
Alternative Uses
Best Use
Apartment 5plus
$285.8K
$250.1K – $333.4K
NOI $20,006 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$567.6K
$496.6K – $662.2K
NOI $39,731 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 85255, AZ
44,976
Population
23,016
Households
2
Avg Household Size
51
Median Age
68%
College-Educated
98%
High-School Grad
88.2 sq mi
ZIP Area
510
Density / Sq Mi
$143,567
Median Household Income
$93,339
Median Earnings
$2,401
Median Rent
$975,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with a flexible den, covered patio, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 19700 N 76TH Street 1119 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1729‑square‑foot ground‑floor condominium with two bedrooms, two bathrooms, and a den; Updated kitchen with quartz countertops, stainless steel appliances, gas range, and subway tile backsplash; Primary suite includes dual vanities, marble flooring, walk‑in shower, and private water closet
