Updated Two-Bedroom Residential Income
For Sale
$310,000
6805 E 2ND Street 11, Scottsdale, AZ 85251
The condominium includes a courtyard pool, refreshed finishes, and HOA-covered electricity, water, and garbage collection.
Property Size990 SF
Days on Market49
Property Features for 6805 E 2ND Street 11
General Information
Standard status
Active
Size
990 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$810
Amenities
community pool
Building Details
Building Size
990 SF
Year Built
1958
Construction
mid-century modern
Listing Agency:
Realty ONE Group
Listed By:
Stephen Whitcomb
(480) 415-9696
Source:
Alexiabertsatos
Added: Jul 25
Changed: Sep 10
Last Checked: Sep 10 at 8:53AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This two-bedroom condominium, built in 1958, combines recent interior updates with mid-century modern styling. The kitchen and open living area feature Hickory cabinetry, Composite Quarts countertops, and updated 24-inch porcelain tile. New carpet serves the bedrooms, while triple-pane windows add another contemporary improvement. The property also includes access to a community pool located within the courtyard.
The residence is in Old Town Scottsdale, within a few blocks of shopping, dining, art galleries, and entertainment. The HOA covers electricity, water, and garbage collection, providing a defined set of included property services.
The residence is in Old Town Scottsdale, within a few blocks of shopping, dining, art galleries, and entertainment. The HOA covers electricity, water, and garbage collection, providing a defined set of included property services.
Key Highlights
- Two‑bedroom condominium in Old Town Scottsdale
- Updated kitchen with Hickory cabinets and Composite Quarts countertops
- 24'' porcelain tile in the kitchen and open living area
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
$11,455
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
3.70%
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%
$229,100
$229.1K
Cap Rate 7%
$163,643
$163.6K
Cap Rate 9%
$127,278
$127.3K
Market Conditions
NOI Build-Up for 990 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
$21.7K $21.96/SF
− Vacancy
−$913 −$0.92/SF
EGI
$20.8K $21.04/SF
− OpEx
−$9.4K −$9.47/SF
NOI
$11.5K $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%
$229,100
Cap Rate 7%
$163,643
Cap Rate 9%
$127,278
Alternative Uses
Best Use
Apartment 5plus
$163.6K
$143.2K – $190.9K
NOI $11,455 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$325.0K
$284.4K – $379.2K
NOI $22,749 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,382
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The condominium includes a courtyard pool, refreshed finishes, and HOA-covered electricity, water, and garbage collection.
Where is this residential income property located?
The property is located at 6805 E 2ND Street 11 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑bedroom condominium in Old Town Scottsdale; Updated kitchen with Hickory cabinets and Composite Quarts countertops; 24'' porcelain tile in the kitchen and open living area
