Updated Residential Income
For Sale
$410,000
7347 E THORNWOOD Drive, Scottsdale, AZ 85251
Townhouse with refreshed interiors, private outdoor space, and two covered carport spaces near Old Town Scottsdale.
Property Size1,114 SF
Price / SF$368.04
Days on Market89
Property Features for 7347 E THORNWOOD Drive
General Information
Standard status
Active
Size
1,114 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,018
Amenities
private patio
dedicated coffee bar
built-in living-room storage
laundry room
Building Details
Building Size
1,114 SF
Year Built
1971
Buildings
1
Construction
townhouse
Listing Agency:
Compass
Listed By:
Josh Gonzalez
(602) 639-0644
Source:
Jcluxuryresidential
Added: Aug 6
Changed: Oct 31
Last Checked: Nov 1 at 3:25PM
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 Compass
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Investment Insights
Based on property information with market context.
This updated townhouse at 7347 E Thornwood Drive offers 1,114 square feet with two bedrooms and one-and-a-half bathrooms. Interior improvements include vinyl plank flooring, quartz countertops, stainless steel appliances, expanded cabinetry, built-in living-room storage, and a dedicated coffee bar. The home also includes a separate laundry room with washer and dryer, updated windows and sliding doors, and refreshed HVAC. Upstairs, the primary bedroom has a walk-in closet, while the second bedroom can also serve as a home office. Outdoor features include a private patio with turf and two covered carport spaces. Built in 1971, the property is near Old Town Scottsdale dining, shopping, nightlife, and entertainment.
Key Highlights
- 1,114‑square‑foot townhouse with 2 bedrooms and 1.5 bathrooms
- Private patio with turf plus 2 covered carport spaces
- Updated windows, sliding doors, and HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,890
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,800
$257.8K
Cap Rate 7%
$184,143
$184.1K
Cap Rate 9%
$143,222
$143.2K
Market Conditions
NOI Build-Up for 1,114 SF
Gross rent
$24.5K $21.96/SF
− Vacancy
−$1.0K −$0.92/SF
EGI
$23.4K $21.04/SF
− OpEx
−$10.5K −$9.47/SF
NOI
$12.9K $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%
$257,800
Cap Rate 7%
$184,143
Cap Rate 9%
$143,222
Alternative Uses
Best Use
Apartment 5plus
$184.1K
$161.1K – $214.8K
NOI $12,890 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$365.7K
$320.0K – $426.7K
NOI $25,599 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,344
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 - Townhouse with refreshed interiors, private outdoor space, and two covered carport spaces near Old Town Scottsdale.
Where is this residential income property located?
The property is located at 7347 E THORNWOOD Drive Scottsdale, AZ.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 1,114‑square‑foot townhouse with 2 bedrooms and 1.5 bathrooms; Private patio with turf plus 2 covered carport spaces; Updated windows, sliding doors, and HVAC
