Updated 2-Bedroom
For Sale
$290,000
7474 E EARLL Drive 112, Scottsdale, AZ 85251
Ground-level condominium with renovated interiors, in-unit laundry, and access to a heated community pool and spa.
Property Size861 SF
Days on Market163
Property Features for 7474 E EARLL Drive 112
General Information
Standard status
Active
Size
861 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$711
Amenities
heated community pool
spa
in-unit washer and dryer
Building Details
Building Size
861 SF
Year Built
1981
Listing Agency:
My Home Group Real Estate
Listed By:
Ian M Toner
(480) 577-3534
Source:
Alexiabertsatos
Added: Apr 2
Changed: Sep 10
Last Checked: Sep 10 at 8:28AM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
This ground-level condominium features two bedrooms and two full bathrooms within an open-concept living area. The interior has updated flooring, contemporary paint, modern cabinetry, stainless steel appliances, and granite countertops. A private washer and dryer are located inside the unit. The primary suite includes a walk-in closet and an ensuite bathroom with updated fixtures and custom tile work, while the second bedroom offers flexibility for guests or office use.
Community amenities include maintained grounds, a heated pool, and a spa. The property is located near Old Town Scottsdale, with Scottsdale Fashion Square, the Waterfront district, dining, nightlife, shopping, and golfing accessible by walking or trolley.
Community amenities include maintained grounds, a heated pool, and a spa. The property is located near Old Town Scottsdale, with Scottsdale Fashion Square, the Waterfront district, dining, nightlife, shopping, and golfing accessible by walking or trolley.
Key Highlights
- Ground‑level 2‑bedroom, 2‑bathroom condominium
- Updated flooring, paint, cabinetry, appliances, and granite countertops
- Private in‑unit washer and dryer
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
$9,962
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
3.44%
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%
$199,240
$199.2K
Cap Rate 7%
$142,314
$142.3K
Cap Rate 9%
$110,689
$110.7K
Market Conditions
NOI Build-Up for 861 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
$18.9K $21.96/SF
− Vacancy
−$794 −$0.92/SF
EGI
$18.1K $21.04/SF
− OpEx
−$8.2K −$9.47/SF
NOI
$10.0K $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%
$199,240
Cap Rate 7%
$142,314
Cap Rate 9%
$110,689
Alternative Uses
Best Use
Apartment 5plus
$142.3K
$124.5K – $166.0K
NOI $9,962 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$282.6K
$247.3K – $329.8K
NOI $19,785 @ 7.0% cap · market cap 6.82%
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
3,531
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 - Ground-level condominium with renovated interiors, in-unit laundry, and access to a heated community pool and spa.
Where is this residential income property located?
The property is located at 7474 E EARLL Drive 112 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Ground‑level 2‑bedroom, 2‑bathroom condominium; Updated flooring, paint, cabinetry, appliances, and granite countertops; Private in‑unit washer and dryer
