Second-Floor Residential Income
For Sale
$135,000
8211 E GARFIELD Street J218, Scottsdale, AZ 85257
Updated cooperative residence with two bedrooms, a screened porch, and building services covered through monthly fees.
Property Size888 SF
Days on Market78
Property Features for 8211 E GARFIELD Street J218
General Information
Standard status
Active
Size
888 SF
Property subtype
Apartment
Building Details
Building Size
888 SF
Year Built
1964
Listing Agency:
United Southwest Realty
(602) 717-5115
Listed By:
Gregory P Johnson · License #BR008487000
(602) 717-5115
Source:
Alexiabertsatos
Added: Jun 6
Changed: Aug 13
Last Checked: Aug 22 at 10:28AM
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 United Southwest Realty
Investment Insights
Based on property information with market context.
This second-floor end unit in Scottsdale East Homes Cooperative offers two bedrooms, one bathroom, substantial storage, and a screened-in porch. Recent improvements include new paint and flooring. The residence was built in 1964 and is offered for cash purchase only.
Monthly fees cover maintenance of the buildings and grounds, along with electrical, plumbing, and air-conditioning service. Water, sewer, and trash are also included. The property is located near Skysong, Scottsdale’s Greenbelt, and ASU at 8211 E Garfield Street, Unit J218, Scottsdale, Arizona 85257.
Monthly fees cover maintenance of the buildings and grounds, along with electrical, plumbing, and air-conditioning service. Water, sewer, and trash are also included. The property is located near Skysong, Scottsdale’s Greenbelt, and ASU at 8211 E Garfield Street, Unit J218, Scottsdale, Arizona 85257.
Key Highlights
- Second‑floor end unit in Scottsdale East Homes Cooperative
- Two bedrooms, one bathroom, storage, and a screened‑in porch
- New paint and flooring
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
$10,275
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
7.61%
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%
$205,500
$205.5K
Cap Rate 7%
$146,786
$146.8K
Cap Rate 9%
$114,167
$114.2K
Market Conditions
NOI Build-Up for 888 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
$19.5K $21.96/SF
− Vacancy
−$819 −$0.92/SF
EGI
$18.7K $21.04/SF
− OpEx
−$8.4K −$9.47/SF
NOI
$10.3K $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%
$205,500
Cap Rate 7%
$146,786
Cap Rate 9%
$114,167
Alternative Uses
Best Use
Apartment 5plus
$146.8K
$128.4K – $171.3K
NOI $10,275 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$291.5K
$255.1K – $340.1K
NOI $20,405 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 85257, AZ
29,187
Population
16,392
Households
1.8
Avg Household Size
39
Median Age
46%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,230
Density / Sq Mi
$79,828
Median Household Income
$54,580
Median Earnings
$1,812
Median Rent
$453,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated cooperative residence with two bedrooms, a screened porch, and building services covered through monthly fees.
Where is this residential income property located?
The property is located at 8211 E GARFIELD Street J218 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Second‑floor end unit in Scottsdale East Homes Cooperative; Two bedrooms, one bathroom, storage, and a screened‑in porch; New paint and flooring
