First-Floor Residential Income
For Sale
$285,000
9550 E THUNDERBIRD Road 143, Scottsdale, AZ 85260
Condominium residence with on-site pool, spa, and fitness amenities.
Property Size843 SF
Days on Market129
Property Features for 9550 E THUNDERBIRD Road 143
General Information
Standard status
Active
Size
843 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$755
Amenities
pool
spa
fitness center
community center
gated community
Building Details
Building Size
843 SF
Year Built
1996
Listing Agency:
Keller Williams Arizona Realty
(480) 577-0330
Listed By:
Susan D Schneider
(480) 577-0330
Source:
Alexiabertsatos
Added: Apr 17
Changed: Aug 21
Last Checked: Aug 22 at 10:40AM
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.
Built in 1996, this first-floor condominium offers an open arrangement connecting the living room, dining area, and kitchen. The primary bedroom includes two closets and a full bathroom, while an in-unit laundry and storage room adds practical utility.
The residence is within a gated community with access to a heated pool, spa, fitness center, community center, and maintained grounds. Its setting provides access to Loop 101, along with nearby shopping, dining, golf courses, and outdoor recreation. The property information identifies the residence as suitable for full-time occupancy, a second home, or investment use.
The residence is within a gated community with access to a heated pool, spa, fitness center, community center, and maintained grounds. Its setting provides access to Loop 101, along with nearby shopping, dining, golf courses, and outdoor recreation. The property information identifies the residence as suitable for full-time occupancy, a second home, or investment use.
Key Highlights
- First‑floor condominium in a gated community
- Open layout links the living area, dining space, and kitchen
- Primary bedroom includes two closets and a full bathroom
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
$9,754
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
3.42%
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%
$195,080
$195.1K
Cap Rate 7%
$139,343
$139.3K
Cap Rate 9%
$108,378
$108.4K
Market Conditions
NOI Build-Up for 843 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
$18.5K $21.96/SF
− Vacancy
−$778 −$0.92/SF
EGI
$17.7K $21.04/SF
− OpEx
−$8.0K −$9.47/SF
NOI
$9.8K $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%
$195,080
Cap Rate 7%
$139,343
Cap Rate 9%
$108,378
Alternative Uses
Best Use
Apartment 5plus
$139.3K
$121.9K – $162.6K
NOI $9,754 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$276.7K
$242.1K – $322.9K
NOI $19,371 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,021
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with on-site pool, spa, and fitness amenities.
Where is this residential income property located?
The property is located at 9550 E THUNDERBIRD Road 143 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: First‑floor condominium in a gated community; Open layout links the living area, dining space, and kitchen; Primary bedroom includes two closets and a full bathroom
