Two-Suite Residential Income
For Sale
$399,000
9340 N 92ND Street 101, Scottsdale, AZ 85258
Lower-level end unit with a private patio, updated kitchen features, and access to community recreation amenities.
Property Size1,274 SF
Days on Market17
Property Features for 9340 N 92ND Street 101
General Information
Standard status
Active
Size
1,274 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,180
Building Details
Building Size
1,274 SF
Year Built
1983
Listing Agency:
Keller Williams Arizona Realty
Listed By:
Bill Modrich
(480) 271-8332
Source:
Jcluxuryresidential
Added: Aug 26
Changed: Aug 31
Last Checked: Sep 10 at 8:32AM
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 Arizona Realty
Investment Insights
Based on property information with market context.
This lower-level end unit in McCormick Ranch Village Condos offers a split-bedroom layout with two primary suites, each including a walk-in closet. The kitchen is equipped with stainless steel appliances, stone countertops, a breakfast area, and built-in cabinetry. Plantation shutters, an all-in-one washer and dryer, and a private patio overlooking a grassy common area add functional and residential appeal.
Community amenities include a heated pool and spa, tennis courts, and maintained grounds. The property is near Loop 101, shopping, dining, scenic trails, nearby parks, restaurants, and additional retail destinations. Built in 1983, the condominium combines a two-suite configuration with established community amenities and access to surrounding conveniences.
Community amenities include a heated pool and spa, tennis courts, and maintained grounds. The property is near Loop 101, shopping, dining, scenic trails, nearby parks, restaurants, and additional retail destinations. Built in 1983, the condominium combines a two-suite configuration with established community amenities and access to surrounding conveniences.
Key Highlights
- Two primary suites, each with a walk‑in closet
- Lower‑level end‑unit position with private patio
- Kitchen includes stainless steel appliances and stone countertops
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
$14,741
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%
$294,820
$294.8K
Cap Rate 7%
$210,586
$210.6K
Cap Rate 9%
$163,789
$163.8K
Market Conditions
NOI Build-Up for 1,274 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
$28.0K $21.96/SF
− Vacancy
−$1.2K −$0.92/SF
EGI
$26.8K $21.04/SF
− OpEx
−$12.1K −$9.47/SF
NOI
$14.7K $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%
$294,820
Cap Rate 7%
$210,586
Cap Rate 9%
$163,789
Alternative Uses
Best Use
Apartment 5plus
$210.6K
$184.3K – $245.7K
NOI $14,741 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$418.2K
$365.9K – $487.9K
NOI $29,275 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 85258, AZ
25,203
Population
15,566
Households
1.6
Avg Household Size
55
Median Age
63%
College-Educated
99%
High-School Grad
10.3 sq mi
ZIP Area
2,447
Density / Sq Mi
$105,171
Median Household Income
$68,184
Median Earnings
$1,945
Median Rent
$744,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Lower-level end unit with a private patio, updated kitchen features, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 9340 N 92ND Street 101 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two primary suites, each with a walk‑in closet; Lower‑level end‑unit position with private patio; Kitchen includes stainless steel appliances and stone countertops
