Residential Income Property with 2-Car
New
For Sale
$565,000
19700 N 76th Street #2070, Scottsdale, AZ 85255
Split-bedroom residence with formal dining, a granite-counter kitchen, and a private south-facing balcony.
Property Size1,843 SF
Price / SF$306.57
Days on Market2
Property Features for 19700 N 76th Street #2070
General Information
Standard status
Active
Size
1,843 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$3,261
Amenities
resort-style heated pools/spas
fully equipped fitness centers
walking trails
lifestyle director
golf courses
restaurants
Building Details
Building Size
1,843 SF
Year Built
2001
Stories
2
Listing Agency:
Keller Williams Realty Sonoran Living
(480) 508-0715
Listed By:
Andrew R Bloom · License #SA110379000
(480) 508-0715
Source:
Aznewhorizonrealty
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 5:27AM
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 Keller Williams Realty Sonoran Living
Investment Insights
Based on property information with market context.
The Cielo 2 plan at 19700 N 76th Street #2070 provides 1,843 square feet of residential space in a layout organized around a generous great room, formal dining area, and spacious kitchen. The primary bedroom is separated from the additional bedroom and den/office, while the suite includes a walk-in closet and separate tub and shower. Granite countertops and extensive cabinetry support the kitchen, and a private south-facing balcony extends the living area. A 2-car garage is included.
Built in 2001, the property is part of the Village at Grayhawk community. Shared amenities include three heated pools and spas, two fully equipped fitness centers, 30 miles of walking trails, a lifestyle director, two 18-hole golf courses, and three restaurants.
Built in 2001, the property is part of the Village at Grayhawk community. Shared amenities include three heated pools and spas, two fully equipped fitness centers, 30 miles of walking trails, a lifestyle director, two 18-hole golf courses, and three restaurants.
Key Highlights
- 1,843‑square‑foot Cielo 2 plan with great room and formal dining area
- Split‑bedroom layout includes a primary suite and den/office
- Kitchen features granite countertops and extensive cabinetry
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
$21,325
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
3.77%
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%
$426,500
$426.5K
Cap Rate 7%
$304,643
$304.6K
Cap Rate 9%
$236,944
$236.9K
Market Conditions
NOI Build-Up for 1,843 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
$40.5K $21.96/SF
− Vacancy
−$1.7K −$0.92/SF
EGI
$38.8K $21.04/SF
− OpEx
−$17.4K −$9.47/SF
NOI
$21.3K $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%
$426,500
Cap Rate 7%
$304,643
Cap Rate 9%
$236,944
Alternative Uses
Best Use
Apartment 5plus
$304.6K
$266.6K – $355.4K
NOI $21,325 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$605.0K
$529.4K – $705.8K
NOI $42,350 @ 7.0% cap · market cap 7.50%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Split-bedroom residence with formal dining, a granite-counter kitchen, and a private south-facing balcony.
Where is this residential income property located?
The property is located at 19700 N 76th Street #2070 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 1,843‑square‑foot Cielo 2 plan with great room and formal dining area; Split‑bedroom layout includes a primary suite and den/office; Kitchen features granite countertops and extensive cabinetry
