Ground-Floor Residential Income
New
For Sale
$299,990
20100 N 78TH Place 1007, Scottsdale, AZ 85255
The condo pairs an open interior with a covered patio and access to shared recreation amenities.
Property Size798 SF
Price / SF$375.93
Days on Market6
Property Features for 20100 N 78TH Place 1007
General Information
Standard status
Active
Size
798 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,098
Amenities
pools
clubhouse
heated spa
theater room
gym
Building Details
Building Size
798 SF
Year Built
2001
Listing Agency:
My Home Group Real Estate
Listed By:
Jack Ryan
(480) 227-6929
Source:
Luxuryhomesdesertmountain
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 25 at 12:28AM
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 My Home Group Real Estate
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Investment Insights
Based on property information with market context.
This 798-square-foot, ground-floor condo in the gated Edge at Grayhawk community was built in 2001. Its open layout includes LVP flooring, fresh paint, 2-inch blinds, and a kitchen with quartz counters, white shaker cabinetry, subway tile backsplash, and a breakfast bar. The primary suite has a walk-in closet, quartz vanity, and low-step walk-in shower. A hall closet and exterior storage closet add storage, while a covered patio extends the living area outdoors.
Community amenities include pools, a heated spa, clubhouse, theater room, and gym. Scottsdale Quarter, with dining and shopping, is nearby.
Community amenities include pools, a heated spa, clubhouse, theater room, and gym. Scottsdale Quarter, with dining and shopping, is nearby.
Key Highlights
- 798‑square‑foot ground‑floor condo in a gated community
- Open layout with LVP flooring, fresh paint, and 2‑inch blinds
- Kitchen with quartz counters, white shaker cabinets, subway tile backsplash, and breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,233
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,660
$184.7K
Cap Rate 7%
$131,900
$131.9K
Cap Rate 9%
$102,589
$102.6K
Market Conditions
NOI Build-Up for 798 SF
Gross rent
$17.5K $21.96/SF
− Vacancy
−$736 −$0.92/SF
EGI
$16.8K $21.04/SF
− OpEx
−$7.6K −$9.47/SF
NOI
$9.2K $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%
$184,660
Cap Rate 7%
$131,900
Cap Rate 9%
$102,589
Alternative Uses
Best Use
Apartment 5plus
$131.9K
$115.4K – $153.9K
NOI $9,233 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$262.0K
$229.2K – $305.6K
NOI $18,337 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
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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 - The condo pairs an open interior with a covered patio and access to shared recreation amenities.
Where is this residential income property located?
The property is located at 20100 N 78TH Place 1007 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $299,990.
What are key features of this property?
This property features: 798‑square‑foot ground‑floor condo in a gated community; Open layout with LVP flooring, fresh paint, and 2‑inch blinds; Kitchen with quartz counters, white shaker cabinets, subway tile backsplash, and breakfast bar
