Two-Bedroom Residential
New
For Sale
$325,000
7502 E Thomas Road #301, Scottsdale, AZ 85251
A vaulted living room, wood-burning fireplace, and balcony complement the unit’s two-bedroom layout.
Property Size1,140 SF
Price / SF$285.09
Days on Market5
Property Features for 7502 E Thomas Road #301
General Information
Standard status
Active
Size
1,140 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$582
Amenities
swimming pool
spa
balcony
fireplace
Full Bth Master Bdrm
Eat-in Kitchen
Breakfast Bar
Granite Counters
High Speed Internet
Vaulted Ceiling(s)
No Interior Steps
Balcony
Building Details
Building Size
1,140 SF
Year Built
1981
Stories
3
Listing Agency:
DeLex Realty
(602) 910-3002
Listed By:
Dylan J Williams
(480) 861-4320
Source:
Arizonaalacarterealty
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 26 at 1:37AM
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 DeLex Realty
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Investment Insights
Based on property information with market context.
This 1,140-square-foot residential unit was built in 1981 and has two bedrooms. The living area features vaulted ceilings, natural light, and a wood-burning fireplace. An eat-in kitchen includes stainless steel appliances, granite counters, a mosaic tile backsplash, track lighting, and a two-tier breakfast bar. The main bedroom has a walk-in closet and an attached bathroom with a shower and tub combination. A stacked washer and dryer are included, and the unit has a balcony.
Community amenities include a swimming pool and spa.
Community amenities include a swimming pool and spa.
Key Highlights
- Two‑bedroom unit with 1,140 square feet
- Built in 1981
- Vaulted living room with a wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,191
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,820
$263.8K
Cap Rate 7%
$188,443
$188.4K
Cap Rate 9%
$146,567
$146.6K
Market Conditions
NOI Build-Up for 1,140 SF
Gross rent
$25.0K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$24.0K $21.04/SF
− OpEx
−$10.8K −$9.47/SF
NOI
$13.2K $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%
$263,820
Cap Rate 7%
$188,443
Cap Rate 9%
$146,567
Alternative Uses
Best Use
Apartment 5plus
$188.4K
$164.9K – $219.9K
NOI $13,191 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$374.2K
$327.5K – $436.6K
NOI $26,196 @ 7.0% cap · market cap 8.06%
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
2,407
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 - A vaulted living room, wood-burning fireplace, and balcony complement the unit’s two-bedroom layout.
Where is this residential income property located?
The property is located at 7502 E Thomas Road #301 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑bedroom unit with 1,140 square feet; Built in 1981; Vaulted living room with a wood‑burning fireplace
