Loft-Style Residential Income
New
For Sale
$305,000
20100 N 78TH Place N 2045, Scottsdale, AZ 85255
A one-bedroom condo includes a loft and access to shared recreational amenities.
Property Size1,121 SF
Price / SF$272.08
Days on Market7
Property Features for 20100 N 78TH Place N 2045
General Information
Standard status
Active
Size
1,121 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1.5BA + loft
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,465
Amenities
heated pools
spa
clubhouse
movie theater
game room
billiards
fitness center
Building Details
Building Size
1,121 SF
Year Built
2001
Listing Agency:
HomeSmart
Listed By:
Paul M Beauchemin · License #SA630805000
(480) 459-8400
Source:
Luxuryhomesdesertmountain
Added: Oct 27
Changed: Oct 31
Last Checked: Nov 1 at 2:12PM
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
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Investment Insights
Based on property information with market context.
Built in 2001, this Scottsdale condo has one bedroom, 1.5 baths, and a loft that can serve as a second sleeping area or workspace. The living and dining areas connect to a covered balcony through sliding glass doors. Newer flooring and fresh interior paint are noted, along with a kitchen featuring updated countertops.
Community facilities include heated pools, a spa, fitness center, clubhouse, movie theater, game room, and billiards. The residence is also described as close to a main pool and the fitness center.
Community facilities include heated pools, a spa, fitness center, clubhouse, movie theater, game room, and billiards. The residence is also described as close to a main pool and the fitness center.
Key Highlights
- One bedroom, 1.5 baths, and a flexible loft
- Covered balcony accessed from the living and dining area
- Community amenities include heated pools, spa, fitness center, clubhouse, movie theater, game room, and billiards
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,971
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
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
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 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 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$368.0K
$322.0K – $429.3K
NOI $25,760 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
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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 - A one-bedroom condo includes a loft and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 20100 N 78TH Place N 2045 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: One bedroom, 1.5 baths, and a flexible loft; Covered balcony accessed from the living and dining area; Community amenities include heated pools, spa, fitness center, clubhouse, movie theater, game room, and billiards
