Residential Income Property with Covered
For Sale
$350,000
20100 N 78TH Place 2160, Scottsdale, AZ 85255
The two-bedroom condo has a split-bedroom layout and two assigned covered parking spaces.
Property Size1,116 SF
Price / SF$313.62
Days on Market42
Property Features for 20100 N 78TH Place 2160
General Information
Standard status
Active
Size
1,116 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,533
Building Details
Building Size
1,116 SF
Year Built
2001
Listing Agency:
Property Plus USA Realty
Listed By:
Kirsten Shafer · License #BR535992000
(480) 440-3446
Source:
Luxuryhomesdesertmountain
Added: Aug 22
Changed: Sep 23
Last Checked: Oct 1 at 7:18PM
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 Property Plus USA Realty
Investment Insights
Based on property information with market context.
This 1,116-square-foot, two-bedroom condo features a split-bedroom floor plan, with bedrooms positioned on opposite sides of the unit. Built in 2001, it is offered as-is. Two covered parking spaces are assigned to the residence.
Residents at Edge at Grayhawk have access to four pools, three spas, a fitness center, outdoor fireplaces and gas grills, clubhouse game rooms, private theaters, and a business center. The community also offers WiFi, a resident chef, and monthly events. Scottsdale Quarter, Kierland Commons, Desert Ridge, Mayo Clinic, hiking trails, golf, dining, and shopping are identified as nearby destinations.
Residents at Edge at Grayhawk have access to four pools, three spas, a fitness center, outdoor fireplaces and gas grills, clubhouse game rooms, private theaters, and a business center. The community also offers WiFi, a resident chef, and monthly events. Scottsdale Quarter, Kierland Commons, Desert Ridge, Mayo Clinic, hiking trails, golf, dining, and shopping are identified as nearby destinations.
Key Highlights
- 1,116‑square‑foot, two‑bedroom condo with a split‑bedroom layout
- Two assigned covered parking spaces
- Built in 2001 and offered as‑is
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
3.69%
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 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$366.4K
$320.6K – $427.4K
NOI $25,645 @ 7.0% cap · market cap 7.33%
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 two-bedroom condo has a split-bedroom layout and two assigned covered parking spaces.
Where is this residential income property located?
The property is located at 20100 N 78TH Place 2160 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,116‑square‑foot, two‑bedroom condo with a split‑bedroom layout; Two assigned covered parking spaces; Built in 2001 and offered as‑is
