Updated Residential Income
For Sale
$321,000
8055 E THOMAS Road E121, Scottsdale, AZ 85251
Scottsdale townhome with renovated interiors and access to community recreation amenities.
Property Size1,023 SF
Days on Market128
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
swimming pool
clubhouse
tennis courts
Building Details
Building Size
1,023 SF
Year Built
1972
Listing Agency:
Realty ONE Group
(602) 800-9689
Listed By:
Michele Eldred
(602) 800-9689
Source:
Jcluxuryresidential
Added: Apr 15
Changed: Aug 16
Last Checked: Aug 20 at 12:36PM
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 Scottsdale townhome was built in 1972 and has undergone extensive interior improvements. The kitchen includes quartz countertops and custom cabinetry, while both bathrooms feature marble countertops. Additional updates include dual-pane windows, porcelain wood-look tile flooring, revised closet doors, smooth ceilings, and ceiling fans.
The property is located at 8055 E THOMAS Road E121 in Scottsdale, Arizona. Woodland Springs provides a swimming pool, clubhouse, and tennis courts. The residence is positioned for full-time occupancy, occasional use, or short-term rental use, as supported by the property information.
The property is located at 8055 E THOMAS Road E121 in Scottsdale, Arizona. Woodland Springs provides a swimming pool, clubhouse, and tennis courts. The residence is positioned for full-time occupancy, occasional use, or short-term rental use, as supported by the property information.
Key Highlights
- Renovated kitchen with quartz countertops and custom cabinetry
- Both bathrooms upgraded with marble countertops
- Dual‑pane energy‑efficient windows
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Scottsdale townhome with renovated interiors and access to community recreation 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: Renovated kitchen with quartz countertops and custom cabinetry; Both bathrooms upgraded with marble countertops; Dual‑pane energy‑efficient windows
