Furnished Short-Term Rental
For Sale
$217,500
8055 E THOMAS Road C203, Scottsdale, AZ 85251
Updated condominium with a furnished interior, quartz kitchen surfaces, and access to resort-style community amenities.
Property Size627 SF
Days on Market468
Property Features for 8055 E THOMAS Road C203
General Information
Standard status
Active
Size
627 SF
Property subtype
Apartment
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$318
Amenities
gym
men's & women's sauna
pool
hot tub
pickleball courts
tennis courts
Building Details
Building Size
627 SF
Year Built
1972
Listing Agency:
Keller Williams Integrity First Realty
(480) 322-9635
Listed By:
Travis M Flores
(480) 322-9635
Source:
Alexiabertsatos
Added: May 1, 2025
Changed: Aug 11
Last Checked: Aug 10 at 3:04AM
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 Keller Williams Integrity First Realty
Investment Insights
Based on property information with market context.
This furnished condominium offers an updated interior with new flooring and baseboards, an upgraded kitchen featuring quartz countertops and stainless steel appliances, and a great room floorplan. The residence is part of a community that permits short-term rentals, supporting flexible use within the property’s stated operating framework. Built in 1972, the complex received amenity improvements in 2024.
Community features include a gym, separate men’s and women’s saunas, a swimming pool, hot tub, pickleball courts, and tennis courts. The combination of furnished accommodations, refreshed finishes, an open living arrangement, and short-term rental eligibility provides a clear profile for a furnished rental property.
Community features include a gym, separate men’s and women’s saunas, a swimming pool, hot tub, pickleball courts, and tennis courts. The combination of furnished accommodations, refreshed finishes, an open living arrangement, and short-term rental eligibility provides a clear profile for a furnished rental property.
Key Highlights
- Short‑term rentals permitted within the community
- Fully furnished condominium with new flooring and baseboards
- Updated kitchen with quartz countertops and stainless steel appliances
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
$7,255
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
3.34%
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%
$145,100
$145.1K
Cap Rate 7%
$103,643
$103.6K
Cap Rate 9%
$80,611
$80.6K
Market Conditions
NOI Build-Up for 627 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
$13.8K $21.96/SF
− Vacancy
−$578 −$0.92/SF
EGI
$13.2K $21.04/SF
− OpEx
−$5.9K −$9.47/SF
NOI
$7.3K $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%
$145,100
Cap Rate 7%
$103,643
Cap Rate 9%
$80,611
Alternative Uses
Best Use
Apartment 5plus
$103.6K
$90.7K – $120.9K
NOI $7,255 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$205.8K
$180.1K – $240.1K
NOI $14,408 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,263
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Updated condominium with a furnished interior, quartz kitchen surfaces, and access to resort-style community amenities.
Where is this short term rental property located?
The property is located at 8055 E THOMAS Road C203 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $217,500.
What are key features of this property?
This property features: Short‑term rentals permitted within the community; Fully furnished condominium with new flooring and baseboards; Updated kitchen with quartz countertops and stainless steel appliances
