Renovated Residential Income
For Sale
$495,000
20100 N 78TH Place #1126, Scottsdale, AZ 85255
The gated community offers shared recreation, fitness, and resident services.
Property Size1,300 SF
Price / SF$380.77
Days on Market148
Property Features for 20100 N 78TH Place #1126
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Apartment
Amenities
two pools
clubhouse
movie theater
full gym
game room
chef services
fitness classes
Building Details
Building Size
1,300 SF
Year Built
2001
Stories
3
Listing Agency:
My Home Group Real Estate
Listed By:
Alexander Rodenburg · License #SA679002000
(480) 685-2760
Source:
Southquest.kw
Added: May 8
Changed: Oct 1
Last Checked: Oct 1 at 8:21AM
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
Investment Insights
Based on property information with market context.
This renovated residential income property contains approximately 1,300 square feet, with expanded kitchen, dining, bedroom, and closet areas. Interior improvements include quartz counters, shaker-style cabinets, wood-look tile, recessed lights, stainless steel appliances, custom blinds, and updated bathrooms, including a marble shower in the primary bath. An oversized patio adds outdoor space.
The gated community in North Scottsdale provides two swimming pools, a clubhouse, movie theater, gym, and game room. Chef services and fitness classes are also available. The residence was built in 2001.
The gated community in North Scottsdale provides two swimming pools, a clubhouse, movie theater, gym, and game room. Chef services and fitness classes are also available. The residence was built in 2001.
Key Highlights
- Approximately 1,300 SF with expanded kitchen, dining, primary bedroom, and walk‑in closet
- Renovated interior with quartz countertops, shaker cabinetry, recessed lighting, and stainless steel appliances
- Updated bathrooms, including a marble shower in the primary bath
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
$15,042
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
3.04%
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%
$300,840
$300.8K
Cap Rate 7%
$214,886
$214.9K
Cap Rate 9%
$167,133
$167.1K
Market Conditions
NOI Build-Up for 1,300 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
$28.5K $21.96/SF
− Vacancy
−$1.2K −$0.92/SF
EGI
$27.3K $21.04/SF
− OpEx
−$12.3K −$9.47/SF
NOI
$15.0K $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%
$300,840
Cap Rate 7%
$214,886
Cap Rate 9%
$167,133
Alternative Uses
Best Use
Apartment 5plus
$214.9K
$188.0K – $250.7K
NOI $15,042 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$426.8K
$373.4K – $497.9K
NOI $29,873 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The gated community offers shared recreation, fitness, and resident services.
Where is this residential income property located?
The property is located at 20100 N 78TH Place #1126 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Approximately 1,300 SF with expanded kitchen, dining, primary bedroom, and walk‑in closet; Renovated interior with quartz countertops, shaker cabinetry, recessed lighting, and stainless steel appliances; Updated bathrooms, including a marble shower in the primary bath
