Remodeled Residential Income
For Sale
$375,000
20100 N 78TH Place 1100, Scottsdale, AZ 85255
Updated condominium with renovated bathrooms, new appliances, and access to resort-style community amenities.
Property Size1,116 SF
Days on Market47
Property Features for 20100 N 78TH Place 1100
General Information
Standard status
Active
Size
1,116 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,533
Building Details
Building Size
1,116 SF
Year Built
2001
Listing Agency:
E & G Real Estate Services
Listed By:
Esther R Bronsteyn
(602) 570-6575
Source:
Jcluxuryresidential
Added: Jul 20
Changed: Sep 3
Last Checked: Sep 2 at 1:40AM
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 E & G Real Estate Services
Investment Insights
Based on property information with market context.
This condominium at 20100 N 78TH Place 2090 in Scottsdale was built in 2001 and comprehensively redesigned. Improvements include hardwood flooring, custom light wood cabinetry, leathered Taj Mahal quartzite countertops, a tiled range hood, new appliances, designer paint, and 28 added recessed lights. Both bathrooms feature updated tile, contemporary vanities, and refreshed finishes.
The property is located within The Edge at Grayhawk and includes access to resort-style amenities. Grayhawk Golf Club, Scottsdale Quarter, Kierland Commons, and the Loop 101 are all identified as being minutes away. The interior updates and community setting provide a modern residential offering within North Scottsdale.
The property is located within The Edge at Grayhawk and includes access to resort-style amenities. Grayhawk Golf Club, Scottsdale Quarter, Kierland Commons, and the Loop 101 are all identified as being minutes away. The interior updates and community setting provide a modern residential offering within North Scottsdale.
Key Highlights
- Comprehensively remodeled condominium in The Edge at Grayhawk
- Hardwood flooring, custom cabinetry, Taj Mahal quartzite countertops, and new appliances
- Both bathrooms updated with new tile, modern vanities, and contemporary finishes
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
$12,913
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
3.44%
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%
$258,260
$258.3K
Cap Rate 7%
$184,471
$184.5K
Cap Rate 9%
$143,478
$143.5K
Market Conditions
NOI Build-Up for 1,116 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
$24.5K $21.96/SF
− Vacancy
−$1.0K −$0.92/SF
EGI
$23.5K $21.04/SF
− OpEx
−$10.6K −$9.47/SF
NOI
$12.9K $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%
$258,260
Cap Rate 7%
$184,471
Cap Rate 9%
$143,478
Alternative Uses
Best Use
Apartment 5plus
$184.5K
$161.4K – $215.2K
NOI $12,913 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$366.4K
$320.6K – $427.4K
NOI $25,645 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with renovated bathrooms, new appliances, and access to resort-style community amenities.
Where is this residential income property located?
The property is located at 20100 N 78TH Place 1100 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Comprehensively remodeled condominium in The Edge at Grayhawk; Hardwood flooring, custom cabinetry, Taj Mahal quartzite countertops, and new appliances; Both bathrooms updated with new tile, modern vanities, and contemporary finishes
