Ground-Floor Residential Income
For Sale
$455,000
9475 E PURDUE Avenue 135, Scottsdale, AZ 85258
Updated end-unit condo with a private patio and access to extensive community amenities.
Property Size1,496 SF
Price / SF$304.14
Days on Market154
Property Features for 9475 E PURDUE Avenue 135
General Information
Standard status
Active
Size
1,496 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA + den
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,404
Amenities
resort-style pools
tennis courts
pickleball courts
scenic walking paths
private patio
Building Details
Building Size
1,496 SF
Year Built
1994
Listing Agency:
Berkshire Hathaway HomeServices Arizona Properties
Listed By:
Juli Sala
(801) 209-3454
Source:
Jcluxuryresidential
Added: Apr 11
Changed: Sep 4
Last Checked: Sep 10 at 7:34AM
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 Berkshire Hathaway HomeServices Arizona Properties
Investment Insights
Based on property information with market context.
This ground-floor end-unit condominium at 9475 E Purdue Avenue in Scottsdale offers two bedrooms, two bathrooms, and a den within 1,496 sq. ft. of living space. New paint and carpet refresh the residence, while the open layout connects the living, dining, and kitchen areas. A private patio faces a grassy area, adding outdoor space directly off the home.
Built in 1994, the property is located within a community offering eight pools, tennis courts, pickleball courts, and walking paths. The combination of a ground-level end-unit position, flexible den, and broad on-site amenity package supports residential use within a Scottsdale setting.
Built in 1994, the property is located within a community offering eight pools, tennis courts, pickleball courts, and walking paths. The combination of a ground-level end-unit position, flexible den, and broad on-site amenity package supports residential use within a Scottsdale setting.
Key Highlights
- Ground‑floor end unit with 2 bedrooms, 2 bathrooms, and a den
- 1,496 sq. ft. of living space
- New paint and carpet
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
$17,310
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
3.80%
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%
$346,200
$346.2K
Cap Rate 7%
$247,286
$247.3K
Cap Rate 9%
$192,333
$192.3K
Market Conditions
NOI Build-Up for 1,496 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
$32.9K $21.96/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$31.5K $21.04/SF
− OpEx
−$14.2K −$9.47/SF
NOI
$17.3K $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%
$346,200
Cap Rate 7%
$247,286
Cap Rate 9%
$192,333
Alternative Uses
Best Use
Apartment 5plus
$247.3K
$216.4K – $288.5K
NOI $17,310 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$491.1K
$429.7K – $573.0K
NOI $34,377 @ 7.0% cap · market cap 7.56%
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
3,367
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated end-unit condo with a private patio and access to extensive community amenities.
Where is this residential income property located?
The property is located at 9475 E PURDUE Avenue 135 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Ground‑floor end unit with 2 bedrooms, 2 bathrooms, and a den; 1,496 sq. ft. of living space; New paint and carpet
