Top-Floor Residential Income
For Sale
$419,000
19777 N 76TH Street 2141, Scottsdale, AZ 85255
Two-bedroom condominium with a private garage and extensive community amenities.
Property Size1,222 SF
Days on Market142
Property Features for 19777 N 76TH Street 2141
General Information
Standard status
Active
Size
1,222 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,353
Amenities
gas fireplace
gated entry
2 club houses
BBQs
4 pools & spas
fitness centers
movie theater
game room
resident chef
Building Details
Building Size
1,222 SF
Year Built
2000
Listing Agency:
RE/MAX Sun Properties
Listed By:
John D Weil
(480) 387-2097
Source:
Jcluxuryresidential
Added: Apr 18
Changed: Sep 3
Last Checked: Sep 5 at 7:41AM
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 RE/MAX Sun Properties
Investment Insights
Based on property information with market context.
This top-floor condominium features a split 2bed/2bath layout with an open kitchen and family room arranged around a gas fireplace. Interior improvements include wood-like flooring, granite countertops, stainless steel appliances, a newer HVAC system, and a newer hot water heater. A 1-car garage provides dedicated parking.
The gated community includes 2 clubhouses, BBQ areas, 4 pools and spas, fitness centers, a movie theater, game room, and resident chef. The property is near dining, golf, hiking trails, and shopping in Scottsdale, Arizona. Built in 2000, the residence combines a private upper-level setting with a broad range of on-site recreational and social facilities.
The gated community includes 2 clubhouses, BBQ areas, 4 pools and spas, fitness centers, a movie theater, game room, and resident chef. The property is near dining, golf, hiking trails, and shopping in Scottsdale, Arizona. Built in 2000, the residence combines a private upper-level setting with a broad range of on-site recreational and social facilities.
Key Highlights
- Top‑floor split 2bed/2bath condominium
- Open kitchen and family room with gas fireplace
- 1 car garage included
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
$14,139
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
3.37%
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%
$282,780
$282.8K
Cap Rate 7%
$201,986
$202.0K
Cap Rate 9%
$157,100
$157.1K
Market Conditions
NOI Build-Up for 1,222 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
$26.8K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$25.7K $21.04/SF
− OpEx
−$11.6K −$9.47/SF
NOI
$14.1K $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%
$282,780
Cap Rate 7%
$201,986
Cap Rate 9%
$157,100
Alternative Uses
Best Use
Apartment 5plus
$202.0K
$176.7K – $235.7K
NOI $14,139 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$401.1K
$351.0K – $468.0K
NOI $28,080 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
764
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 - Two-bedroom condominium with a private garage and extensive community amenities.
Where is this residential income property located?
The property is located at 19777 N 76TH Street 2141 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Top‑floor split 2bed/2bath condominium; Open kitchen and family room with gas fireplace; 1 car garage included
