Lofted One-Bedroom Residential Income
For Sale
$310,000
20100 N 78th Place #2068, Scottsdale, AZ 85255
Condominium layout includes an additional half bath, office nook, loft, pool, and fitness center access.
Property Size1,121 SF
Price / SF$276.54
Days on Market30
Property Features for 20100 N 78th Place #2068
General Information
Standard status
Active
Size
1,121 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
clean, move in ready
Additional Details
Multifamily Units
1
Amenities
pool
fitness center
Building Details
Year Built
2001
Listing Agency:
Homesmart
(480) 354-7344
Listed By:
Klaus Team Real Estate Solutions
(480) 354-7344
Source:
Klausteam
Added: Jul 31
Changed: Aug 27
Last Checked: Aug 28 at 10:19AM
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
Investment Insights
Based on property information with market context.
This residential income property is a condominium with the community’s largest one-bedroom floor plan, according to the property information. The interior includes an additional half bath, a dedicated office nook, and a loft, creating distinct areas within the residence. The unit is described as clean and move-in ready, with room for future upgrades at the owner’s discretion.
Positioned at the rear of The Edge community, the residence has no neighbors above and borders Thompson Peak Park on one side and Sate Trust Land on the other. It is near the community pool and fitness center while remaining away from the entrance. The property is in Scottsdale, Arizona, and was built in 2001.
Positioned at the rear of The Edge community, the residence has no neighbors above and borders Thompson Peak Park on one side and Sate Trust Land on the other. It is near the community pool and fitness center while remaining away from the entrance. The property is in Scottsdale, Arizona, and was built in 2001.
Key Highlights
- Largest one‑bedroom floor plan in The Edge community
- Additional half bath, office nook, and loft
- No neighbors above the residence
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
$12,971
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
4.18%
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%
$259,420
$259.4K
Cap Rate 7%
$185,300
$185.3K
Cap Rate 9%
$144,122
$144.1K
Market Conditions
NOI Build-Up for 1,121 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
$24.6K $21.96/SF
− Vacancy
−$1.0K −$0.92/SF
EGI
$23.6K $21.04/SF
− OpEx
−$10.6K −$9.47/SF
NOI
$13.0K $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%
$259,420
Cap Rate 7%
$185,300
Cap Rate 9%
$144,122
Alternative Uses
Best Use
Apartment 5plus
$185.3K
$162.1K – $216.2K
NOI $12,971 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$368.0K
$322.0K – $429.3K
NOI $25,760 @ 7.0% cap · market cap 8.31%
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
413
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condominium layout includes an additional half bath, office nook, loft, pool, and fitness center access.
Where is this residential income property located?
The property is located at 20100 N 78th Place #2068 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Largest one‑bedroom floor plan in The Edge community; Additional half bath, office nook, and loft; No neighbors above the residence
