Two-Bedroom Residential Income
For Sale
$321,000
8055 E THOMAS Road E121, Scottsdale, AZ 85251
Two-level unit with updated finishes, private patio, community recreation, and convenient access to on-site amenities.
Property Size1,023 SF
Days on Market150
Property Features for 8055 E THOMAS Road E121
General Information
Standard status
Active
Size
1,023 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$414
Amenities
private patio
on-site laundry facilities
BBQ areas
pool
pickleball and tennis courts
sauna
clubhouse
workout facility
Building Details
Building Size
1,023 SF
Year Built
1972
Listing Agency:
Realty ONE Group
Listed By:
Michele Eldred
(602) 800-9689
Source:
Alexiabertsatos
Added: Apr 15
Changed: Sep 8
Last Checked: Sep 10 at 6:42AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This two-bedroom residential income property in Scottsdale was built in 1972 and arranged across two levels. The main floor includes an open living area, eat-in kitchen, pantry, half bathroom, and private patio. Updated elements include luxury vinyl flooring, stainless steel appliances, an oak staircase, and a renovated full bathroom. Both bedrooms are upstairs and feature vaulted ceilings, spacious closets, and built-in organization systems. The air-conditioning unit is 4 years old.
Community amenities include a swimming pool, pickleball and tennis courts, sauna, clubhouse, workout facility, BBQ areas, and on-site laundry. The unit is positioned near the courts, pool, clubhouse, and laundry facilities. The property is located at 8055 E THOMAS Road D102, Scottsdale, AZ 85251, near El Dorado Park and a range of shopping, dining, and entertainment options.
Community amenities include a swimming pool, pickleball and tennis courts, sauna, clubhouse, workout facility, BBQ areas, and on-site laundry. The unit is positioned near the courts, pool, clubhouse, and laundry facilities. The property is located at 8055 E THOMAS Road D102, Scottsdale, AZ 85251, near El Dorado Park and a range of shopping, dining, and entertainment options.
Key Highlights
- Two‑bedroom, two‑level residential income property
- Private patio connected to the eat‑in kitchen
- Renovated full bathroom and updated oak staircase
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
$11,837
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
3.69%
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%
$236,740
$236.7K
Cap Rate 7%
$169,100
$169.1K
Cap Rate 9%
$131,522
$131.5K
Market Conditions
NOI Build-Up for 1,023 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
$22.5K $21.96/SF
− Vacancy
−$944 −$0.92/SF
EGI
$21.5K $21.04/SF
− OpEx
−$9.7K −$9.47/SF
NOI
$11.8K $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%
$236,740
Cap Rate 7%
$169,100
Cap Rate 9%
$131,522
Alternative Uses
Best Use
Apartment 5plus
$169.1K
$148.0K – $197.3K
NOI $11,837 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$335.8K
$293.9K – $391.8K
NOI $23,508 @ 7.0% cap · market cap 7.32%
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
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level unit with updated finishes, private patio, community recreation, and convenient access to on-site amenities.
Where is this residential income property located?
The property is located at 8055 E THOMAS Road E121 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $321,000.
What are key features of this property?
This property features: Two‑bedroom, two‑level residential income property; Private patio connected to the eat‑in kitchen; Renovated full bathroom and updated oak staircase
