Updated Residential Income
For Sale
$430,000
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$385
Days on Market37
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: Sep 2
Last Checked: Sep 10 at 8:22AM
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
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 = 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
$12,890
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
3.00%
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%
$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
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
$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 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%
$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 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$365.7K
$320.0K – $426.7K
NOI $25,599 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,344
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
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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 $430,000.
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
