Upgraded Two-Bedroom Income
For Sale
$215,000
7110 E CONTINENTAL Drive 2026, Scottsdale, AZ 85257
Updated unit with a private balcony, covered parking, and access to community amenities.
Property Size829 SF
Days on Market32
Property Features for 7110 E CONTINENTAL Drive 2026
General Information
Standard status
Active
Size
829 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$478
Building Details
Building Size
829 SF
Year Built
2007
Listing Agency:
Russ Lyon Sotheby's International Realty
(623) 500-8585
Listed By:
Valantina Nissan · License #SA674016000
(623) 500-8585
Source:
Alexiabertsatos
Added: Jul 22
Changed: Aug 11
Last Checked: Aug 21 at 10:42AM
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 upgraded residential income property offers a two-bedroom, two-bathroom layout with black and stainless steel appliances, granite countertops, and a washer/dryer combination. The residence also includes a private balcony, covered parking, a walk-in closet, and a primary suite with a newly tiled shower. The property was built in 2007.
Community amenities include two swimming pools, a sports court, and laundry services. The residence is near ASU, Old Town Scottsdale, light rail, trails, and restaurants. With no neighbors directly in front or behind the unit, the setting provides added separation from surrounding residences.
Community amenities include two swimming pools, a sports court, and laundry services. The residence is near ASU, Old Town Scottsdale, light rail, trails, and restaurants. With no neighbors directly in front or behind the unit, the setting provides added separation from surrounding residences.
Key Highlights
- Two‑bedroom, two‑bathroom apartment with upgraded finishes
- Black and stainless steel appliances with granite countertops
- Private balcony and covered parking
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
$9,592
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
4.46%
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%
$191,840
$191.8K
Cap Rate 7%
$137,029
$137.0K
Cap Rate 9%
$106,578
$106.6K
Market Conditions
NOI Build-Up for 829 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
$18.2K $21.96/SF
− Vacancy
−$765 −$0.92/SF
EGI
$17.4K $21.04/SF
− OpEx
−$7.8K −$9.47/SF
NOI
$9.6K $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%
$191,840
Cap Rate 7%
$137,029
Cap Rate 9%
$106,578
Alternative Uses
Best Use
Apartment 5plus
$137.0K
$119.9K – $159.9K
NOI $9,592 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$272.1K
$238.1K – $317.5K
NOI $19,050 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 85257, AZ
29,187
Population
16,392
Households
1.8
Avg Household Size
39
Median Age
46%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,230
Density / Sq Mi
$79,828
Median Household Income
$54,580
Median Earnings
$1,812
Median Rent
$453,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated unit with a private balcony, covered parking, and access to community amenities.
Where is this residential income property located?
The property is located at 7110 E CONTINENTAL Drive 2026 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom apartment with upgraded finishes; Black and stainless steel appliances with granite countertops; Private balcony and covered parking
