Updated Scottsdale Income
New
For Sale
$290,000
4154 N 81ST Street, Scottsdale, AZ 85251
Updated condo with community pool, private patio, and power for an EV charging station.
Property Size904 SF
Days on Market6
Property Features for 4154 N 81ST Street
General Information
Standard status
Active
Size
904 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$565
Amenities
community pool
Building Details
Building Size
904 SF
Year Built
1971
Listing Agency:
Compass
Listed By:
Aaron A Meyer
(480) 249-5175
Source:
Alexiabertsatos
Added: Sep 12
Changed: Sep 15
Last Checked: Sep 17 at 3:56AM
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 Compass
Investment Insights
Based on property information with market context.
This condominium property, built in 1971, has been refreshed throughout with modern finishes and comfortable living spaces. The residence includes a private patio with power in place for an EV charging station, along with access to a community pool.
The Scottsdale setting provides convenient access to Indian School Park, including its tennis courts, and Old Town Scottsdale. Scottsdale Fashion Square, Talking Stick Resort, Tempe Marketplace, ASU, and the 101 freeway are also within a short drive. The property offers a residential setting while remaining connected to shopping, recreation, dining, and regional access.
The Scottsdale setting provides convenient access to Indian School Park, including its tennis courts, and Old Town Scottsdale. Scottsdale Fashion Square, Talking Stick Resort, Tempe Marketplace, ASU, and the 101 freeway are also within a short drive. The property offers a residential setting while remaining connected to shopping, recreation, dining, and regional access.
Key Highlights
- Condominium property built in 1971
- Refreshed throughout with modern finishes
- Private patio has power for an EV charging station
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
$10,460
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
3.61%
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%
$209,200
$209.2K
Cap Rate 7%
$149,429
$149.4K
Cap Rate 9%
$116,222
$116.2K
Market Conditions
NOI Build-Up for 904 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
$19.9K $21.96/SF
− Vacancy
−$834 −$0.92/SF
EGI
$19.0K $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%
$209,200
Cap Rate 7%
$149,429
Cap Rate 9%
$116,222
Alternative Uses
Best Use
Apartment 5plus
$149.4K
$130.8K – $174.3K
NOI $10,460 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$296.8K
$259.7K – $346.2K
NOI $20,773 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 85251, AZ
40,073
Population
26,456
Households
1.5
Avg Household Size
39
Median Age
60%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
5,566
Density / Sq Mi
$89,151
Median Household Income
$60,282
Median Earnings
$1,771
Median Rent
$500,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with community pool, private patio, and power for an EV charging station.
Where is this residential income property located?
The property is located at 4154 N 81ST Street Scottsdale, AZ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Condominium property built in 1971; Refreshed throughout with modern finishes; Private patio has power for an EV charging station
