Residential Income Property with
For Sale
$479,000
9775 N 94TH Place 103, Scottsdale, AZ 85258
First-floor condominium offers a den, fireplace, updated kitchen, and access to community recreation amenities.
Property Size1,497 SF
Days on Market51
Property Features for 9775 N 94TH Place 103
General Information
Standard status
Active
Size
1,497 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,334
Amenities
community pool
tennis court
Building Details
Building Size
1,497 SF
Year Built
1993
Listing Agency:
RE/MAX Excalibur
(480) 370-7393
Listed By:
Grant Stonerook · License #SA660349000
(480) 370-7393
Source:
Alexiabertsatos
Added: Jun 24
Changed: Aug 3
Last Checked: Aug 12 at 2:24PM
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 RE/MAX Excalibur
Investment Insights
Based on property information with market context.
This first-floor condominium in Scottsdale was built in 1993 and includes three bedrooms plus a den that can serve as office space or an additional sleeping area. The interior features plank flooring, abundant natural light, upgraded fixtures, and a living and dining area with a fireplace. Sliding doors connect the main living space and primary bedroom to the outdoor area.
The kitchen is equipped with generous cabinetry, granite countertops and backsplash, recessed lighting, a breakfast nook, and newer stainless-steel appliances. The primary suite includes a walk-in closet and an upgraded private bathroom with dual sinks, a makeup vanity, and newer fixtures. A covered patio extends the usable living area, while community amenities include a pool and tennis court. The property is located at 9775 N 94TH Place 103 in Scottsdale, Arizona 85258.
The kitchen is equipped with generous cabinetry, granite countertops and backsplash, recessed lighting, a breakfast nook, and newer stainless-steel appliances. The primary suite includes a walk-in closet and an upgraded private bathroom with dual sinks, a makeup vanity, and newer fixtures. A covered patio extends the usable living area, while community amenities include a pool and tennis court. The property is located at 9775 N 94TH Place 103 in Scottsdale, Arizona 85258.
Key Highlights
- Three‑bedroom condominium with a den
- First‑floor residence built in 1993
- Living and dining area with fireplace and sliding‑door patio access
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
$17,321
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
3.62%
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%
$346,420
$346.4K
Cap Rate 7%
$247,443
$247.4K
Cap Rate 9%
$192,456
$192.5K
Market Conditions
NOI Build-Up for 1,497 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%
$346,420
Cap Rate 7%
$247,443
Cap Rate 9%
$192,456
Alternative Uses
Best Use
Apartment 5plus
$247.4K
$216.5K – $288.7K
NOI $17,321 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$491.4K
$430.0K – $573.3K
NOI $34,400 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,572
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 - First-floor condominium offers a den, fireplace, updated kitchen, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 9775 N 94TH Place 103 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Three‑bedroom condominium with a den; First‑floor residence built in 1993; Living and dining area with fireplace and sliding‑door patio access
