Two-Bedroom Residential Income
For Sale
$359,000
20801 N 90TH Place 233, Scottsdale, AZ 85255
Upgraded condominium with tall ceilings, private garage, assigned carport, and access to extensive community amenities.
Property Size909 SF
Days on Market27
Property Features for 20801 N 90TH Place 233
General Information
Standard status
Active
Size
909 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,060
Building Details
Building Size
909 SF
Year Built
2000
Listing Agency:
The Agency
Listed By:
Chey Castro · License #SA583805000
(602) 570-2516
Source:
Jcluxuryresidential
Added: Aug 16
Changed: Sep 10
Last Checked: Sep 10 at 7:59AM
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 The Agency
Investment Insights
Based on property information with market context.
This two-bedroom condominium offers 11-ft ceilings, abundant natural light, and recent updates that include a refrigerator, AC unit and condenser, and garbage disposal. Furniture is also available, and the residence includes a private garage plus an assigned carport. Built in 2000, the property is suited to full-time occupancy or use as a low-maintenance retreat.
The home is within walking distance of DC Ranch’s Market Street Village, with boutique shopping, dining, and community events nearby. Community amenities include 2 recreation centers, 2 fitness facilities, 3 pools, a spa, pickleball and tennis courts, grilling areas, and a media lounge with fireplace. Sonoran Desert walking and biking paths surround the community, while several golf courses are nearby.
The home is within walking distance of DC Ranch’s Market Street Village, with boutique shopping, dining, and community events nearby. Community amenities include 2 recreation centers, 2 fitness facilities, 3 pools, a spa, pickleball and tennis courts, grilling areas, and a media lounge with fireplace. Sonoran Desert walking and biking paths surround the community, while several golf courses are nearby.
Key Highlights
- Two‑bedroom condominium with 11‑ft ceilings and abundant natural light
- Recent refrigerator, AC unit and condenser, and garbage disposal upgrades
- Private garage and assigned carport included
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
$10,518
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
2.93%
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%
$210,360
$210.4K
Cap Rate 7%
$150,257
$150.3K
Cap Rate 9%
$116,867
$116.9K
Market Conditions
NOI Build-Up for 909 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
$20.0K $21.96/SF
− Vacancy
−$838 −$0.92/SF
EGI
$19.1K $21.04/SF
− OpEx
−$8.6K −$9.47/SF
NOI
$10.5K $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%
$210,360
Cap Rate 7%
$150,257
Cap Rate 9%
$116,867
Alternative Uses
Best Use
Apartment 5plus
$150.3K
$131.5K – $175.3K
NOI $10,518 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$298.4K
$261.1K – $348.1K
NOI $20,888 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
571
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 - Upgraded condominium with tall ceilings, private garage, assigned carport, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 20801 N 90TH Place 233 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two‑bedroom condominium with 11‑ft ceilings and abundant natural light; Recent refrigerator, AC unit and condenser, and garbage disposal upgrades; Private garage and assigned carport included
