Remodeled Residential Income
For Sale
$362,000
9990 N Scottsdale Rd #1015, Paradise Valley, AZ 85253
Ground-level condominium with updated finishes, a covered patio, and access to shared pool and outdoor amenities.
Property Size913 SF
Price / SF$396.50
Days on Market13
Property Features for 9990 N Scottsdale Rd #1015
General Information
Standard status
Active
Size
913 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
pool
walking paths
BBQ areas
green spa
Building Details
Year Built
1994
Listing Agency:
1St Dream Realty
(602) 909-6513
Listed By:
Brandon Howe Team
(602) 909-6513
Source:
Howerealtygroup
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 10:20AM
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 1St Dream Realty
Investment Insights
Based on property information with market context.
This 913-square-foot, ground-level condominium at 9990 N Scottsdale Rd #1015 offers a two-bedroom, two-bath layout with an open living arrangement. The interior includes fresh paint, newer LVP flooring, stainless-steel appliances, quartz kitchen countertops, and recently tiled bathrooms. A covered patio extends the living area outdoors.
Built in 1994, the property is part of a 108-unit community with a pool, walking paths, BBQ areas, and a shaded green spa. The condominium is zoned for Cherokee, Cocopah, and Chaparral schools in Paradise Valley, Arizona.
Built in 1994, the property is part of a 108-unit community with a pool, walking paths, BBQ areas, and a shaded green spa. The condominium is zoned for Cherokee, Cocopah, and Chaparral schools in Paradise Valley, Arizona.
Key Highlights
- 913 SF ground‑level condo with 2 bedrooms and 2 bathrooms
- Updated kitchen with quartz countertops and new stainless‑steel appliances
- Fresh interior paint, newer LVP flooring, and newly tiled bathrooms
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
$10,304
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
2.85%
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%
$206,080
$206.1K
Cap Rate 7%
$147,200
$147.2K
Cap Rate 9%
$114,489
$114.5K
Market Conditions
NOI Build-Up for 913 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
$19.7K $21.60/SF
− Vacancy
−$986 −$1.08/SF
EGI
$18.7K $20.52/SF
− OpEx
−$8.4K −$9.23/SF
NOI
$10.3K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /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%
$206,080
Cap Rate 7%
$147,200
Cap Rate 9%
$114,489
Alternative Uses
Best Use
Apartment 5plus
$147.2K
$128.8K – $171.7K
NOI $10,304 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.4K
$247.1K – $329.5K
NOI $19,769 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,653
Businesses Nearby
Explore this area
Business Placement
Demographics for 85253, AZ
17,358
Population
8,815
Households
2
Avg Household Size
53
Median Age
71%
College-Educated
98%
High-School Grad
18.1 sq mi
ZIP Area
959
Density / Sq Mi
$182,150
Median Household Income
$79,848
Median Earnings
$1,935
Median Rent
$2,000,001
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level condominium with updated finishes, a covered patio, and access to shared pool and outdoor amenities.
Where is this residential income property located?
The property is located at 9990 N Scottsdale Rd #1015 Paradise Valley, AZ.
What is the asking price?
The asking price for this property is $362,000.
What are key features of this property?
This property features: 913 SF ground‑level condo with 2 bedrooms and 2 bathrooms; Updated kitchen with quartz countertops and new stainless‑steel appliances; Fresh interior paint, newer LVP flooring, and newly tiled bathrooms
