No-Stairs Residential Income
For Sale
$262,888
5995 N 78th St #1066, Scottsdale, AZ 85250
One-level condo with practical interiors, covered outdoor space, and access to extensive Scottsdale recreation.
Property Size664 SF
Price / SF$395.92
Days on Market36
Property Features for 5995 N 78th St #1066
General Information
Standard status
Active
Size
664 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
saltwater pools
heated pool
spa
fitness center
clubhouse
Building Details
Year Built
1981
Listing Agency:
Exp Realty
(623) 986-6650
Listed By:
Jeremy Jennings
(623) 986-6650
Source:
Theazliving
Added: Jul 25
Changed: Aug 28
Last Checked: Aug 28 at 10:17AM
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 Exp Realty
Investment Insights
Based on property information with market context.
This Bella Vita condo at 5995 N 78th St #1066 provides 664 square feet with one bedroom and one bathroom in a no-stairs layout. The interior includes wood flooring through the main living areas, bedroom carpeting updated in July 2026, a functional kitchen, stacked washer and dryer, and a walk-in closet. A covered patio adds outdoor space and extra storage.
Community amenities include two saltwater pools, including one heated pool, along with a spa, fitness center, and clubhouse. The property also offers direct access to the 11+ miles of the Scottsdale Greenbelt, with nearby bike trails, a dog park, Chaparral Park, Old Town, restaurants, shopping, nightlife, and outdoor recreation. Built in 1981, the condo combines a compact floor plan with on-site amenities and access to surrounding attractions.
Community amenities include two saltwater pools, including one heated pool, along with a spa, fitness center, and clubhouse. The property also offers direct access to the 11+ miles of the Scottsdale Greenbelt, with nearby bike trails, a dog park, Chaparral Park, Old Town, restaurants, shopping, nightlife, and outdoor recreation. Built in 1981, the condo combines a compact floor plan with on-site amenities and access to surrounding attractions.
Key Highlights
- 664 square feet with 1 bedroom and 1 bathroom
- No‑stairs layout at Bella Vita
- Bedroom carpet updated July 2026
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
$7,683
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
2.92%
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%
$153,660
$153.7K
Cap Rate 7%
$109,757
$109.8K
Cap Rate 9%
$85,367
$85.4K
Market Conditions
NOI Build-Up for 664 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
$14.6K $21.96/SF
− Vacancy
−$612 −$0.92/SF
EGI
$14.0K $21.04/SF
− OpEx
−$6.3K −$9.47/SF
NOI
$7.7K $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%
$153,660
Cap Rate 7%
$109,757
Cap Rate 9%
$85,367
Alternative Uses
Best Use
Apartment 5plus
$109.8K
$96.0K – $128.1K
NOI $7,683 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$218.0K
$190.7K – $254.3K
NOI $15,258 @ 7.0% cap · market cap 5.80%
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
496
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 - One-level condo with practical interiors, covered outdoor space, and access to extensive Scottsdale recreation.
Where is this residential income property located?
The property is located at 5995 N 78th St #1066 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $262,888.
What are key features of this property?
This property features: 664 square feet with 1 bedroom and 1 bathroom; No‑stairs layout at Bella Vita; Bedroom carpet updated July 2026
