Residential Income Property with
New
For Sale
$399,000
5950 N 78th Street #226, Scottsdale, AZ 85250
Gated Scottsdale residence with resort amenities, a primary suite, built-in closet storage, and covered outdoor space.
Property Size1,036 SF
Price / SF$385.14
Days on Market4
Property Features for 5950 N 78th Street #226
General Information
Standard status
Active
Size
1,036 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,068
Amenities
pool
spa
outdoor grilling area
lighted tennis court
private covered balcony
Building Details
Building Size
1,036 SF
Year Built
1986
Stories
1
Listing Agency:
Russ Lyon Sotheby's International Realty
(480) 225-3766
Listed By:
Karen J. DeGeorge · License #SA525444000
(480) 225-3766
Source:
Aznewhorizonrealty
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 11:48AM
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 Russ Lyon Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bathroom residence at Villa Antigua provides 1,036 square feet of living area in a well-maintained setting. The interior includes warm neutral finishes, a primary suite with an ensuite bath, and a walk-in closet fitted with built-in storage. A private covered balcony extends the living space outdoors and overlooks treetops.
The gated community includes a pool and spa, an outdoor grilling area, and a lighted tennis court with mountain views. The property is located at 5950 N 78th Street #226 in Scottsdale, near dining, shopping, and golf. Built in 1986, the residence combines a two-bedroom layout with community recreation and private outdoor space.
The gated community includes a pool and spa, an outdoor grilling area, and a lighted tennis court with mountain views. The property is located at 5950 N 78th Street #226 in Scottsdale, near dining, shopping, and golf. Built in 1986, the residence combines a two-bedroom layout with community recreation and private outdoor space.
Key Highlights
- 2‑bedroom, 2‑bathroom residence with 1,036 square feet
- Private covered balcony with treetop views
- Primary suite includes an ensuite 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
$11,987
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
3.00%
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%
$239,740
$239.7K
Cap Rate 7%
$171,243
$171.2K
Cap Rate 9%
$133,189
$133.2K
Market Conditions
NOI Build-Up for 1,036 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
$22.8K $21.96/SF
− Vacancy
−$956 −$0.92/SF
EGI
$21.8K $21.04/SF
− OpEx
−$9.8K −$9.47/SF
NOI
$12.0K $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%
$239,740
Cap Rate 7%
$171,243
Cap Rate 9%
$133,189
Alternative Uses
Best Use
Apartment 5plus
$171.2K
$149.8K – $199.8K
NOI $11,987 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$340.1K
$297.6K – $396.8K
NOI $23,806 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 85250, AZ
16,501
Population
10,066
Households
1.6
Avg Household Size
48
Median Age
58%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
1,964
Density / Sq Mi
$89,133
Median Household Income
$65,984
Median Earnings
$1,762
Median Rent
$507,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Gated Scottsdale residence with resort amenities, a primary suite, built-in closet storage, and covered outdoor space.
Where is this residential income property located?
The property is located at 5950 N 78th Street #226 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom residence with 1,036 square feet; Private covered balcony with treetop views; Primary suite includes an ensuite bath
