Ground-Floor Residential Income
For Sale
$545,000
7157 E Rancho Vista Drive #1004, Scottsdale, AZ 85251
A split-bedroom layout and covered patio extend the appeal of this two-bedroom residence.
Property Size1,337 SF
Price / SF$407.63
Days on Market30
Property Features for 7157 E Rancho Vista Drive #1004
General Information
Standard status
Active
Size
1,337 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,182
Amenities
indoor/outdoor pools and spas
fitness center
pickleball/basketball and racquetball courts
putting green
steam rooms
concierge
24/7 security
on-site dining
3/4 Bath Master Bdrm
Double Vanity
Granite Counters
Building Details
Building Size
1,337 SF
Year Built
2007
Stories
3
Listing Agency:
AZ Home Seekers
Listed By:
Jeff & Debbie
(480) 200-5305
Source:
Azhomeseekers
Added: Oct 5
Changed: Nov 2
Last Checked: Nov 2 at 1:54PM
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 AZ Home Seekers
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Investment Insights
Based on property information with market context.
This 1,337-square-foot ground-floor residence was built in 2007 and has two bedrooms, two bathrooms, and a split-bedroom floor plan. The interior includes open living, dining, and kitchen areas, granite countertops, gas cooking, and natural stone flooring. A private covered patio opens to landscaped grounds.
Residents have access to indoor and outdoor pools and spas, a fitness center, pickleball and basketball courts, racquetball courts, a putting green, steam rooms, concierge service, 24/7 security, and on-site dining. Old Town Scottsdale, Fashion Square, dining, and entertainment are nearby.
Residents have access to indoor and outdoor pools and spas, a fitness center, pickleball and basketball courts, racquetball courts, a putting green, steam rooms, concierge service, 24/7 security, and on-site dining. Old Town Scottsdale, Fashion Square, dining, and entertainment are nearby.
Key Highlights
- 1,337‑square‑foot ground‑floor residence with two bedrooms and two bathrooms
- Split‑bedroom floor plan
- Private covered patio alongside landscaped grounds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,470
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$309,400
$309.4K
Cap Rate 7%
$221,000
$221.0K
Cap Rate 9%
$171,889
$171.9K
Market Conditions
NOI Build-Up for 1,337 SF
Gross rent
$29.4K $21.96/SF
− Vacancy
−$1.2K −$0.92/SF
EGI
$28.1K $21.04/SF
− OpEx
−$12.7K −$9.47/SF
NOI
$15.5K $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 Rate 5%
$309,400
Cap Rate 7%
$221,000
Cap Rate 9%
$171,889
Alternative Uses
Best Use
Apartment 5plus
$221.0K
$193.4K – $257.8K
NOI $15,470 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$438.9K
$384.0K – $512.1K
NOI $30,723 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,353
Businesses Nearby
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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 - A split-bedroom layout and covered patio extend the appeal of this two-bedroom residence.
Where is this residential income property located?
The property is located at 7157 E Rancho Vista Drive #1004 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 1,337‑square‑foot ground‑floor residence with two bedrooms and two bathrooms; Split‑bedroom floor plan; Private covered patio alongside landscaped grounds
