Remodeled Scottsdale Condo Near
For Sale
$700,000
8245 E BELL Road #221, Scottsdale, AZ 85260
Remodeled 3 bed, 2 bath condo near TPC Scottsdale.
Property Size1,819 SF
Lot Size0.03 Acres
Days on Market263
Property Features for 8245 E BELL Road #221
General Information
Standard status
Active
Size
1,819 SF
Lot size
0.03 Acres
Property subtype
Apartment
Amenities
Fireplace
Ceiling Fan(s)
Central Air
Electric
Programmable Thmstat
Electric Cooktop
Deck, APS, Tile
Building Details
Building Size
1,819 SF
Year Built
1998
Stories
2
Listing Agency:
Realty ONE Group
Listed By:
Realty ONE Group
Source:
Kw
Added: Dec 2, 2025
Changed: Aug 14
Last Checked: Aug 21 at 2:36PM
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.
Located steps from TPC Scottsdale and the WM Phoenix Open Tournament, this remodeled 3-bedroom, 2-bath end unit is situated in the gated Montana Del Sol community. The property is an upper-level home featuring soaring ceilings and an open great room concept. Updated flooring, kitchen, and baths showcase clean, modern finishes. The light-filled kitchen includes updated cabinetry, solid surface counters, and stainless appliances, flowing into a spacious dining and living area with a fireplace. The primary suite offers a walk-in shower, double vanity, and walk-in closet. A large balcony provides an area for relaxation and entertaining. The Homeowners Association allows short-term rentals. The property provides easy access to golf, dining, shopping, Loop 101, hospitals, and airports.
Key Highlights
- Steps from TPC Scottsdale and WM Phoenix Open Tournament.
- HOA allows short‑term rentals: vacation rental potential.
- Remodeled 3 bed/2 bath end unit in gated community.
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
$21,047
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
3.01%
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%
$420,940
$420.9K
Cap Rate 7%
$300,671
$300.7K
Cap Rate 9%
$233,856
$233.9K
Market Conditions
NOI Build-Up for 1,819 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
$39.9K $21.96/SF
− Vacancy
−$1.7K −$0.92/SF
EGI
$38.3K $21.04/SF
− OpEx
−$17.2K −$9.47/SF
NOI
$21.0K $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%
$420,940
Cap Rate 7%
$300,671
Cap Rate 9%
$233,856
Alternative Uses
Best Use
Apartment 5plus
$300.7K
$263.1K – $350.8K
NOI $21,047 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$597.1K
$522.5K – $696.7K
NOI $41,799 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,599
Businesses Nearby
Explore this area
Business Placement
Demographics for 85260, AZ
37,967
Population
21,072
Households
1.8
Avg Household Size
47
Median Age
59%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,674
Density / Sq Mi
$103,854
Median Household Income
$62,835
Median Earnings
$1,969
Median Rent
$637,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Remodeled 3 bed, 2 bath condo near TPC Scottsdale.
Where is this short term rental property located?
The property is located at 8245 E BELL Road #221 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Steps from TPC Scottsdale and WM Phoenix Open Tournament.; HOA allows short‑term rentals: vacation rental potential.; Remodeled 3 bed/2 bath end unit in gated community.
