Ground-Level Income
For Sale
$362,000
9990 N Scottsdale Road 1015, Paradise Valley, AZ 85253
Renovated two-bedroom condominium with updated finishes, a covered patio, and access to shared outdoor amenities.
Property Size913 SF
Days on Market100
Property Features for 9990 N Scottsdale Road 1015
General Information
Standard status
Active
Size
913 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,000
Amenities
covered patio
pool
walking paths
BBQ areas
green space
Building Details
Building Size
913 SF
Year Built
1994
Listing Agency:
My Home Group Real Estate
(480) 751-8169
Listed By:
Luke Careccia · License #SA683407000
(480) 751-8169
Source:
Jcluxuryresidential
Added: May 15
Changed: Aug 20
Last Checked: Aug 21 at 11:47AM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
This ground-level condominium offers two bedrooms and two bathrooms within a community built in 1994. Recent updates include interior paint, quartz kitchen countertops, bathroom vanities, tub and shower wall tile, and newer LVP flooring. The open layout brings natural light through the living areas, while a covered patio extends the usable space outdoors.
The community includes 108 units and provides a shared pool, walking paths, BBQ areas, and shaded green space. The property is located on N Scottsdale Road in Paradise Valley, Arizona, and is associated with the Cherokee, Cocopah, and Chaparral school district.
The community includes 108 units and provides a shared pool, walking paths, BBQ areas, and shaded green space. The property is located on N Scottsdale Road in Paradise Valley, Arizona, and is associated with the Cherokee, Cocopah, and Chaparral school district.
Key Highlights
- Two‑bedroom, two‑bathroom ground‑level condominium
- Updated kitchen with quartz countertops and remodeled bathroom finishes
- Newer LVP flooring and fresh interior paint
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 - Renovated two-bedroom condominium with updated finishes, a covered patio, and access to shared outdoor amenities.
Where is this residential income property located?
The property is located at 9990 N Scottsdale Road 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: Two‑bedroom, two‑bathroom ground‑level condominium; Updated kitchen with quartz countertops and remodeled bathroom finishes; Newer LVP flooring and fresh interior paint
