Residential Income Property with Pool
For Sale
$298,900
7494 E EARLL Drive 310, Scottsdale, AZ 85251
Third-floor end unit in a gated community near Old Town dining, shopping, spring training, ASU, and Fashion Square.
Property Size861 SF
Days on Market105
Property Features for 7494 E EARLL Drive 310
General Information
Standard status
Active
Size
861 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$717
Amenities
gated community
community swimming pool
Building Details
Building Size
861 SF
Year Built
1983
Listing Agency:
Cambridge Properties
(480) 254-1166
Listed By:
Alexis Kalpakoff
(480) 254-1166
Source:
Alexiabertsatos
Added: May 15
Changed: Aug 23
Last Checked: Aug 26 at 2:38PM
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 Cambridge Properties
Investment Insights
Based on property information with market context.
This residential income property is a third-floor end unit within a gated community, positioned beside the elevator and oriented toward the community swimming pool. A split air-conditioning system with air handler was installed in July 2026, while the appliances were updated eight years ago. The residence offers an opportunity for remodeling or tenant placement, and the prior tenant occupied the home for eight years.
The property is within walking distance of restaurants and shopping in Old Town, with additional proximity to spring training, a major hospital, Arizona State University, and Fashion Square. Cats are permitted indoors, and one dog weighing up to 15 pounds is allowed under the stated community rules.
The property is within walking distance of restaurants and shopping in Old Town, with additional proximity to spring training, a major hospital, Arizona State University, and Fashion Square. Cats are permitted indoors, and one dog weighing up to 15 pounds is allowed under the stated community rules.
Key Highlights
- Third‑floor end unit facing the community swimming pool
- Split AC with air handler installed in July 2026
- Gated community with elevator nearby
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
3.33%
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 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$282.6K
$247.3K – $329.8K
NOI $19,785 @ 7.0% cap · market cap 6.62%
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 - Third-floor end unit in a gated community near Old Town dining, shopping, spring training, ASU, and Fashion Square.
Where is this residential income property located?
The property is located at 7494 E EARLL Drive 310 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $298,900.
What are key features of this property?
This property features: Third‑floor end unit facing the community swimming pool; Split AC with air handler installed in July 2026; Gated community with elevator nearby
